Following the Corporate Affairs Commission’s (CAC) directive for Point-of-Sale (POS) operators to register their businesses and submit their CAC details by July 7, 2024, PalmPay is urging its Business users to comply promptly.
This directive aligns with Section 863 (1) of the Companies and Allied Matters Act (CAMA) 2020 and the Central Bank of Nigeria’s (CBN) 2013 guidelines on Agent Banking.
“PalmPay fully supports the CAC’s directive,” said Umuteme Enakeno, Head of Marketing and Communication at PalmPay. “To make the process easier for our customers, we’ve integrated the registration portal directly into our Business App. We also offer 24/7 customer support and weekly meetings to guide operators through the process.”
Key Steps for PalmPay POS Operators:
Register Your Business via the PalmPay Business App: Ensure all required documents and information are accurate before submitting your application.
Update Your PalmPay Account: Once you receive your CAC certificate, update your business details within your PalmPay account to reflect your new corporate status.
PalmPay emphasizes its commitment to fostering a secure financial ecosystem. As such, all PalmPay Business customers must submit or register their CAC before the deadline to avoid account freezing.
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