PalmPay has upgraded its Security Center as part of its “PalmPay Dey For You” campaign, bringing several account and transaction protection features together in one platform as digital payment fraud continues to evolve.

The upgrade includes a real-time Security Check, Large Transaction Shield, Night Guard, USSD account and card lock, as well as transaction alerts covering suspected fraud recipients, duplicate transfers and new-device logins.

The development comes amid growing concerns around fraud methods such as impersonation, social engineering and account takeover, which can expose digital financial services users to unauthorised transactions and other forms of financial loss.

Commenting on the security features from a fraud management perspective, Tosin Obadimu, Head of the Fraud Management Department at the Nigeria Inter-Bank Settlement System (NIBSS) Plc, said integrating multiple protection and reporting tools could strengthen controls around higher-risk transactions.

“PalmPay’s upgraded Security Center brings account and transaction protection into a single hub, combining a real-time Security Check with user-configurable safeguards such as Large Transaction Shield, Night Guard, USSD account and card lock, and in-flow alerts for suspected fraud recipients, duplicate transfers and new-device logins,” Obadimu said.

“From an industry perspective, these controls strengthen verification before high-risk transactions against social engineering and account takeover, while the integrated dispute, fraud reporting and case-tracking features should speed up incident reporting and improve fund recovery across the ecosystem,” he added.

Samuel Oluyemi, Chief Operating Officer of PalmPay Nigeria, said the changes reflect the need for fraud management measures to evolve alongside customer behaviour and the wider payments ecosystem.

“With my over 2 and a half decades in Nigeria’s payments ecosystem, I understand that fraud management requires continuous innovation and empathy for the customer above profitability,” Oluyemi said.

“As customers’ financial services needs evolve, so must the techniques of customer protection against fraud and unauthorised transactions improve. At PalmPay, innovation is about solving real problems for Nigerians and giving them greater confidence to bank with us. That is what PalmPay Dey For You represents — putting customer protection at the heart of the customer’s experience,” he added.

The campaign also includes customer awareness efforts around common fraud risks, particularly impersonation, while encouraging users to make use of available security controls when conducting digital transactions.

For PalmPay, the latest changes form part of its ongoing approach to fraud prevention as digital financial services become increasingly integrated into everyday transactions.

The company also noted that fraud prevention remains a shared responsibility across financial institutions, payment providers and customers, requiring continued investment in security measures alongside greater awareness of emerging fraud tactics.