PalmPay Unveils New Debit Card with Verve to Boost Financial Inclusion
PalmPay, one of Africa’s fastest-growing fintech platforms, has officially launched its new PalmPay debit card in partnership with Verve, Africa’s domestic card scheme.
The partnership reflects PalmPay and Verve’s shared commitment to driving financial inclusion by expanding access and delivering greater value across the digital payments ecosystem.
With over 35 million users and a network of 1.1 million agents and merchants across Nigeria, PalmPay is building one of the continent’s most dynamic fintech ecosystems. The launch of its debit card represents a key milestone in PalmPay’s transformation from a mobile wallet and agent network into a comprehensive digital financial services provider – offering integrated solutions for payments, savings, credit, insurance, and now, card access.
The future of cross-border payments in Africa
Cross-border payments serve as the financial backbone of trade and remittances in Africa, yet they remain fraught with high costs, slow processing times, and regulatory complexities.
By Mladen Čolić, sales vice-president: fintech Africa at TransUnion
As Africa cements its place as a hub of economic growth and innovation, reimagining cross-border payments is imperative for financial inclusion and economic integration.
Africa’s fragmented financial landscape presents a major hurdle to seamless cross-border transactions. With 54 countries, multiple currencies, and diverse regulatory frameworks, payments across borders remain costly and inefficient.
Learn more: https://it-online.co.za/2025/04/02/the-future-of-cross-border-payments-in-africa/
U.S. Government to go fully digital with payments under Trump’s order
In a significant move to modernise the federal government’s financial transactions, President Donald Trump signed an executive order on March 25, 2025, mandating the transition from paper-based payments to electronic methods. Effective September 30, 2025, all federal disbursements—including benefits payments, vendor payments, and tax refunds—will be processed electronically.
The executive order aims to enhance efficiency, reduce costs, and minimise fraud associated with paper checks. According to the Treasury Department, maintaining physical infrastructure for paper payments cost taxpayers over $657 million in the Fiscal Year of 2024. Moreover, Treasury checks are reportedly 16 times more likely to be lost or stolen compared to electronic funds transfers.
Learn more: https://ibsintelligence.com/ibsi-news/u-s-government-to-go-fully-digital-with-payments-under-trumps-order/
PayPal launches advertising platform in the UK
With PayPal Ads, personalised offers can be shown to interested customers based on their past purchases. The business will include the PayPal advanced offers platform, which launched last year and promises to give merchants the ability to reach customers based on what they have actually bought across the internet, down to the stock keeping unit and the individual product.
The new service will be launched in phases, with customers beginning to see ads from July 2025.
“Commerce and advertising are deeply connected, and we believe that the advertising solution we are building at PayPal will become a must-use marketing and revenue channel for merchants big and small,” says Mark Grether, SVP & GM, PayPal Ads, who was hired from Uber last year to build the product.
Learn more: https://www.finextra.com/newsarticle/45759/paypal-launches-advertising-platform-in-the-uk
7-Eleven South Korea to accept CBDC payments in national pilot program
South Korea’s 7-Eleven stores will accept payments in the country’s central bank digital currency (CBDC) until June, as the retailer participates in the test phase of its CBDC project.
The convenience store chain will reportedly provide a 10% discount on all products paid for with CBDC during the test period. According to Moon Dae-woo, head of 7-Eleven’s digital innovation division, the company is making an effort to incorporate digital technology advancements in its operations.
The executive added that the company’s participation in the CBDC test will help accelerate the firm’s digital transformation.
Learn more: https://cointelegraph.com/news/7-eleven-cbdc-testing-phase-april-june-30
Visa offers Apple $100 million to ditch Mastercard
Visa has made a bold push to secure the Apple Card, offering an upfront payment typically reserved for the largest card programmes, according to the Wall Street Journal.
American Express is also trying to unseat Mastercard to win the Apple card. Amex is looking to become the card’s issuer as well as the network, the report said, citing the sources.
Apple is believed to have held talks with JPMorgan, Barclays and Synchrony Financial to take over the running of its credit card programme from Goldman Sachs, which is seeking to ditch its consumer portfolio.
Learn more: https://www.finextra.com/newsarticle/45760/visa-offers-apple-100-million-to-ditch-mastercard
