Yes. I said copycat.
Most of the features and rewards you see on Palmpay today are copied from other Mobile money Operators and Microfinance banks.
For instance, Opay started Rewards and cash box to it customers. But palm pay is over doing it and are giving more benefit to her customers. This study have shown that Palmpay gives a higher percentage of interest to customers making savings in their cash box. This is serious competition that Palmpay has won already.
Opay copied Fix deposit from banks and microfinance banks but palmpay has perfected the option by giving higher interest rate to her customers while reducing the minimum duration of such fixed deposit to 7 days. Yes with palmpay, you can fix your money for 7 days and get an interest of 16% That is huge. With palmpay, the longer the duration, the higher the interest rate. While Opay capped it interest for a one year tenor at 18%, Palmpay is paying a little more at 20% per annum.
The cap of it all is the Original palmpay bill payment and recharge card coupon That no other mobile money operator has bought into. With Palmpay, you get higher reward for bill payment and recharge card purchase because they have made coupons available for payments at discounted prices.
Oh I will not forget the benefits that awaits Palmpay agents and businesses that make use of Palmpay POS for their businesses. These set enjoy a lower charges per transaction and enjoy weekends of no charges per transactions where users are rewarded with every accrued charges back into their business accounts. No other operator has done this for their customers.
So, If you are looking for a mobile money operator that gives you loads of benefits, make sure to trust palmpay to deliver.
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