Nigerian Fintech PalmPay Issues Security Alert, Advises Customers on How to Prevent Online Scams
- PalmPay has warned customers about fraudsters impersonating customer service agents to steal sensitive information and carry out fraudulent transactions
- The fintech company advised users never to share their PINs, passwords or one-time passwords (OTPs)
- PalmPay encouraged customers to use its official support channels, activate security features in its app and report suspicious activities promptly
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PalmPay has warned customers to be cautious of fraudsters impersonating its customer service representatives to steal confidential information and carry out fraudulent transactions.
The fintech company advised users to seek assistance only through its official customer support channels when resolving transaction disputes, recovering account access or making service-related enquiries.
Source: UGC
The warning, issued after the recent Customer Service Week, outlines security measures customers can adopt to protect their accounts and avoid falling victim to scams.
PalmPay warns against sharing PINs, OTPs
According to PalmPay, fraudsters use phone calls, messaging platforms and social media to pose as customer service agents of financial institutions.
The scammers may promise fake rewards, offer to process refunds or claim they need customers' account details to resolve complaints. These tactics are designed to trick unsuspecting users into revealing sensitive information or authorising fraudulent transactions.
PalmPay urged customers never to disclose their one-time passwords (OTPs), personal identification numbers (PINs), passwords or verification codes to anyone.
Users were also advised to avoid suspicious links and reject requests to authorise transactions unless they have independently verified their authenticity.
The company stressed that customers should confirm the identity of anyone claiming to represent PalmPay before sharing personal or financial information or taking action on their accounts.
Merchants advised to verify payments before releasing goods
PalmPay also urged merchants to confirm payments through their official transaction records before releasing goods or providing services.
The company warned against relying solely on screenshots, text messages or other unverified evidence presented by customers as proof of payment.
Merchants who fail to verify transactions may fall victim to fake payment alerts and other scams designed to make them believe funds have been received when they have not.
Customers who notice unfamiliar transactions, suspect fraud or need assistance with their accounts were encouraged to contact PalmPay through its verified support channels.
The fintech company also advised users to check the authenticity of social media accounts and communications before responding to requests for sensitive information.
PalmPay promotes safer digital transactions
As part of its security advice, PalmPay encouraged customers to use the security features available in the PalmPay app's Security Center to strengthen account protection.
Users were urged to keep their login details confidential, remain alert to unsolicited communications and report suspicious activities promptly.
The advisory forms part of the company's ongoing PalmPay Dey For You campaign, which aims to improve customer awareness, promote fraud prevention and encourage safer digital financial transactions.
Source: UGC
Through the initiative, PalmPay is highlighting the importance of responsible digital banking practices and the use of verified customer support channels.
The company reiterated that protecting financial accounts requires vigilance, particularly when dealing with unsolicited calls, messages and online requests.
It urged customers to verify suspicious communications before responding, reinforcing the message that confidential account credentials should never be shared with anyone claiming to provide customer support.
Source: Legit.ng
