As a means to tackle insecurity and prevent scam, the fintech innovator, palmplay, launched Wallet Safe Workshop, a monthly campaign for payment security awareness training to enable customers have a vast knowledge of their security and how to avoid being scammed.
The company plans on using both online and offline channel to create awareness and expose examples of social media and telecom fraud. They will also implore fraud warning education for students and the elderly, and provide procedures on how to effectively use the mobile wallet accounts in combating and managing communications fraud.
The number of frauds attempts in Nigeria from 2019 to 2020 has increased by 186%. Mobile fraud attempts increased by 330 % year over year, while web and POS fraud attempts increased 173% and 215%, respectively. According to Nigeria Inter-Bank Settlement System, (NIBSS).
Chika Nwosu, managing director of PalmPay, has made it clear that the company is committed in ensuring customers have maximum security payment experience.
“PalmPay is committed to delivering users with a secure and trustworthy digital payment experience. We will continue to optimize our risk control procedures, and look forward to collaborating with law enforcement and cybersecurity partners to prevent fraud and ensure payment security,” he said.
PalmPay will freeze accounts reported for carrying out any fraudulent activity for immediate investigation.
