PalmPay moves to protect users against fraudsters

PalmPay, a fintech company, has restated its commitment to safeguarding the finances of its over 35 million users from fraudsters.

Its Head of Marketing and Communications, Mr Femi Hanson, said this in a statement on Wednesday in Lagos.

Hanson noted that the company had outlined safety tips to be observed in the new year to keep users’ accounts and funds safe and secure.

Highlighting the safety tips, he stressed the need for users to activate the night guard feature on their PalmPay app to add extra security and verification for transactions made at night.

Hanson also emphasised that users should enable the transaction guard feature on their PalmPay app to add an extra layer of security for transactions exceeding a set threshold.

According to him, fraudsters are deploying sophisticated tactics such as phishing attempts, fake websites, and giveaway scams to take advantage of unsuspecting victims.

“Fraudsters are not ready to take a break from their schemes as they remain on the prowl to exploit unsuspecting victims,” Hanson said.

He noted that other safety tips included reporting fraudulent transactions immediately, staying updated on safety messages, verifying all transaction platforms, and signing up for PalmPay wallet shield.

Hanson emphasised the importance of being cautious when receiving calls, emails, or SMS requesting sensitive information, as PalmPay would never ask for such details.

He also stressed the need for users to regularly review their account transactions and report any suspicious activities to the company’s customer support team.

“By following these safety tips, PalmPay users can ensure their financial security and protect themselves from fraudulent activities.

“PalmPay will continue to show commitment by providing a secure and reliable platform for financial transactions for users,” he said.