How To Convert Palmpay Points To Money (2023)

Are you looking for how to convert Palmpay points to money? There are several ways to make money on the Palmpay app using Palmpay points. Not knowing how to convert this money to money will be a good idea. This article will cover how to convert Palmpay points to money.

What Is Palmpay?

PalmPay is a user-friendly digital wallet that combines bill payment, money transfer, and account opening into one.

It is not a banking app, because it doesn’t operate solely for a bank but can be used for several online transactions.

The PalmPay software has many features, including the ability to transfer money, pay bills, and more.

Like a digitalized version of your physical wallet, a digital wallet offers additional features and is simpler to use. It gives you the flexibility to transact at home for the majority of daily situations, such as recharging airtime and data, etc. You can make and receive payments in this manner without carrying currency with you.

With PalmPay, you can transfer funds to PalmPay users and non-users alike, receive money from any Nigerian bank account, and withdraw your earnings to your bank account.

You can fund your betting accounts, pay for utilities like energy and water, pay for school fees, and purchase airtime in addition to paying for your DSTv and GOTv bouquets.

How Secure Is Palmpay?

PalmPay is quite secure so you have to worry about being scammed or robbed of your money.

Your hard-earned money is safe in your PalmPay account thanks to the company’s Central Bank of Nigeria license, compliance with the Nigerian Data Protection Regulation, and certification under the Payment Card Industry Data Security Standard. You can get troubleshooting support 24 hours a day, seven days a week.

A fraud screening system is implemented, along with real-time risk monitoring and integration with databases used by law enforcement. Refunds on unsuccessful transactions are often given within 24 hours, and even the numerous security measures—passwords, PINs, facial recognition, fingerprint, and OTP/SMS verification—that eventually get to you are there to protect your money.

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To Open An Account:

1. Install the app

Install the PalmPay app on your phone or tablet. Both the iOS Store and the Google Play Store have it for sale.

Don’t have the app? Click here to download and sign up.

2. Open the app and register

Open the app, then select the Sign-up option. Enter your phone number after choosing your country code. Here, a verification code will be sent to your phone number.

3. Confirm your telephone number

Send the form, then wait for the verification code. Enter the validation code that was sent to your phone number, then wait for the following page to load.

4. Configure your pin

You must create a pin with four digits. You will confirm after entering your desired code.

Benefits of using PalmPay

The PalmPay mobile app comes with many benefits:

Low service charges during transactions.
Easy payment of bills and fast VTU services.
Guaranteed security and safekeeping of user information.
You can earn bonuses and rewards when you make transactions.
You earn money for each person you invite. You will receive the reward after the person creates an account with PalmPay.

What Is PalmPay point?

PalmPoints are a type of cash available in the PalmPay app that is paid to users as a reward for using the app. The points can be used to make purchases in the app.

Users can earn points for qualifying purchases or for carrying out specific tasks within the App, as periodically recommended.

As soon as the qualifying activity or transaction is finished, points are added to the customer’s PalmPoints account. Depending on the transaction’s completion, the amount spent, and the timing of the transaction, the number of Points received may differ. That is, your transactions’ value directly affects how many PalmPoints you receive.

A maximum of 10,000 PalmPoints can be earned by users per day. You might be contacted to upgrade your account if you make more than this amount.

However, PalmPay is allowed to take away PalmPoints whenever a transaction is reversed or canceled. Alternatively, if they notice or suspect dishonest behavior. This includes, but is not limited to, transactions beyond what may be regarded as normal consumer behavior or private use.

Before being turned into transaction discounts at the moment of redemption, PalmPoints have no value. One Point is equivalent to one Naira at the time of conversion. Future changes to this conversion rate are possible.

PalmPoints cannot yet be used on their own. Transactions using PalmPay can be discounted with PalmPoints up to 50%. This means that actual money must be used in addition to them rather than separately.

How To Acquire Palmpoints

When you make purchases like airtime, bill payments, play games like the Lucky Game, and fund your first wallet of the week with at least N1000, you will earn PalmPoints.

All the several ways to earn from PalmPay are legit. I was surprised when I got a 50% discount on my airtime recharge. I thought it was a scam too but apparently, it is not.

I got Palmpoints for every transaction I made as a reward, sometimes I got discount coupons instead. My first airtime recharge earned me 15 Palmpoints, I remember wondering what the Palmpoints were for and forgetting it for a while till after getting a 2% discount on my electricity bill payment. Surely I spread the good news to my friends and they also got the same rewards after first-time use.

Apparently, you receive a number of coupons as a new user that you may use to save money on the various PalmPay services, and you can find additional coupons in other locations throughout the app. After I started to use it for all my transactions, I don’t remember paying the full price again.

Some of the several ways to earn on PalmPay are:

Referrals.

You also get rewarded for every person you refer to the app too. I referred my friends by word of mouth and obviously, you don’t get rewarded for referring loved ones (or not) by just telling them. Generate a link and select to reach the required number of people by getting them to join via your link and your wallet will be credited as soon as possible.

Click on the link to join and earn your #100 coupons already.

PalmForce.

Everyone can participate in PalmForce, it is a PalmPay Super Referral program. It essentially serves as PalmPay’s rewards program for users who regularly invite others to the network. You get compensated for bringing in new clients and receive cashback for your purchases!

You could join PalmForce and be a partaker of all the amazing offers, rewards, and cashback.

If you have referred up to 5 people successfully on the PalmPay app, then you are eligible to join PalmForce.

PalmForce allows you to earn real cash instead of the usual PalmPoints. When you invite people
and they create an account, you will get the reward paid directly into your PalmPay account
instead of PalmPoints.

Lucky Game

Several games you play once after transactions with varying cash prizes for each try.

The lucky game is more of a lucky draw. You can win discounts and coupons, airtime coupons
and different cash prizes. Also, you can win nothing!

The cash prizes you will win may vary each time because it’s a game of luck and to frequently
get the chance for a lucky draw, you have to perform transactions frequently.

Cashbacks

Rewards for every transaction performed.

For every transaction made, users earn PalmPoints. The more of a transaction made, the more
points earned. The point would be converted to cash which you could use in buying things or
withdrawing alongside your normal cash balance on the app.

A PalmPoint is equivalent to 1 naira. You can win discounts up to 50% off whenever you want
to recharge airtime. For example, you may have 100 PalmPoints. If you want to recharge your airtime
of #200, the 100 PalmPoints will give you a discount of 50%. This means that you will spend
only #100 for a #200 airtime recharge.

The amount of PalmPoints you earn depends on how much your transactions are worth.
Also, you will earn a bonus of 2% (in the form of PalmPoints) whenever you pay bills like
electricity bills and Cable TV subscriptions. However, this applies only to the first 5 bill
payments.

Playing the PalmPay Grab Game

The PalmPay Grab game works more like a raffle draw. It has a maximum limit for raffle slots
and also a closing date and time for each round. You would also see the gift at stake. You can
purchase a raffle ticket with ₦50. Well, you really don’t lose because you get a free coupon
worth up to ₦100. So even if you end up not winning the ultimate prize, it’s still a win-win.

Read more How To Make Money On PalmPay

How To Convert Palmpay points To Money

Are you looking for a way to convert Palmpay points to money? Because these points are considered to be real money on the app, the thought of withdrawing it for other usage is normal. And that brings us to our main topic, how to convert these Palmpoints into real money!

Palmpoints are real money as far as PalmPay transactions are concerned, that is why they are used to complete your transactions on the app. Palmpoints can only be used within the app for airtime purchases and bill payments. It can not be added to your transfers and withdrawals, but for every transaction, you get extra points.

You can convert your Palmpoints into money and use them, and this is how you monetize your Palmpoints for transactions:

Launch the PalmPay application.
Select a transaction, like “Airtime Payment,” by clicking it.
To utilize your points, select the “Points to use” button that you’ll see at the checkout.
Your payment will be reduced by 50% after you click the button.

You can also convert your Palmpoints into PalmCoins now, and use them to purchase value-for-money items like coupons for payment services and online shopping in the exchange center. With your coupons, you get discounts for your transactions on the app and other in-app purchases on PalmBuy.

Advantages of using the PalmPay mobile app:

Low transactional fees for services.
Simple bill payment and quick VTU services.
Guaranteeing the protection and preservation of user data.
When you conduct transactions, you can receive incentives and awards.
For each person you invite, you get paid. The incentive will be given to you following the person’s creation of a PalmPay account.

Is the PalmPay App Legit?

Yes it is; it’s a Mobile Money Operator licensed by the Central Bank of Nigeria which has been
trusted for years by a user base of 10 million+.

It is owned and managed by Transsnet. Transsnet is a partnership venture between NetEase and
Transsion Holdings (the manufacturer of Itel, Tecno Mobile, and Infinix brands).

It also has physical office addresses in Nigeria and Ghana. Its head office in Nigeria is at 20,
Opebi Road, Ikeja in Lagos while the Ghanian head office is situated at 54, Senchi Street,
Airport Residential Area in Accra, Ghana.

PalmPay is redefining the payments experience for consumers and businesses in Africa by
making financial services more accessible and affordable.

Conclusion