Last updated on March 15th, 2023 at 03:04 pm
How To Convert Palmpay Points To Money
Hello there! Welcome to another guide post which is “how to covert Palmpay points to money”.
In our recent post, we discuss how to borrow money from Palmpay and many users of the app were so interested to know how they can convert Palmpay points to money, and that leads us to this article.
If you are also willing to know this continue reading! we are going to break everything thing down for a better understanding.
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Just like I explained in the previews post, Palmpay is a simple e-wallet and secure online payment platform that offers financial services to users through its app.
It’s a CBN-licensed e-wallet and mobile payment platform that let users send and receive quick cash across the country. It’s also used to perform other financial activities like buying airtime, payment of utility bills, etc.
In addition to that, Palmpay is well known by many people due to its wonderful ways of rewarding users. A lot of people are making awesome cash on the app in different ways. For instance, you can earn up to 20,000 Naira per week by simply referring people on the app.
Palmpay also gives up to 12 to 50% cashback per transaction, however, this depends on the kind of transaction.
There are different ways of making money on the app. If you are interested to know this always check on this blog, we are going to cover everything you need to know about making money on Palmpay very soon.
As for now let us ride on with our topic of discussion which is “how to convert Palmpay points to money.”
How To Convert Palmpay Points To Money
Before we dive into telling you “how to convert Palmpay points to money”, let us first of all, understand what is Palmpay points and how they work.
Palmpay points commonly called Palmpoints are your extra cashback rewards for using PalmPay. It can be used to discount up to 50% of your transactions as you make payments on Palmpay and can be converted to PalmCoins which can then be exchanged for value-for-money items in the exchange center.
You can build your Palmpoints balance by simply buying airtime, data bundle, TV purchase, and electricity, on the platform.
Palmpay rewards users with Palmpoints for almost every transaction made on the app. In Naira, a PalmPoint is equivalent to 1 Naira.
The question now is, how are we going to convert Palmpoints to money?
As of now, Palmpay has not produced any option to convert Palmpoints to money that can be transferred to your bank account.
But just like I previously explained, It can be used to discount up to 50% of your transactions as you make payments on Palmpay and can be converted to PalmCoins which can then be exchanged for value-for-money items in the exchange center.
This means that, If you have like 100 Palmpoints and you want to buy airtime of 200 Naira, you will have a discount of 50%. In essence, you spend only one hundred Naira to acquire 200 Naira airtime.
Frequently asked questions
How do I use PalmPay points?
Palmpay points can be used to make transactions on Palmpay. You can use it to make payments, and you can also convert it to Palmcoins which can be exchanged for value-for-money items in the exchange center.
Can I borrow money from my PalmPay account?
Yes, Palmpay also allows users to borrow money on the platform. The good news is that you can borrow up to #150,000 and some of the loans on the platform are interest-free!
Who is the owner of PalmPay?
The owner of Palmpay is Transsnet—a joint venture firm between Transssion and NetEase.
What is your say about Palmpay? Let us know what you have to say about Palmpay by using the comment section below!
Also, you are free to ask questions if you are confused anywhere. We will be pleased to attend to you, thanks for your time!