A fintech company PalmPay said it
has set aside N10 billion cash for users of its platform for savings.
It said the cash is a form of
reward for their saving habits in a new drive towards driving financial
literacy.
The savings challenge will run
from November 28 to December 7, 2023, and users have the chance to win one of
five iPhone 15, five TECNO Phantom X2 smartphones and participate in winning
part of N10 billion in Trial Cash.
“Users will earn a daily interest
rate of 16 per cent per annum from the Trial Cash and have the earned interest
credited to their savings account as spendable money every day,” Kevin Olumese,
Senior Marketing Manager, PalmPay, said.
“Of course, we understand that
it’s easier to spend than to save money. However, what if you were told you
could delay that gratification to buy a new smartphone and in 10 days become
the owner of a brand new iPhone 15 or Phantom X2?
“The PalmPay Savings Challenge is
to encourage users to delay that gratification to spend and instead save while
also being rewarded,” Olumese added.
During the campaign period, users
stand a chance to win if they join at least one round of challenge, verify
their BVN on the PalmPay app, share the campaign with at least one friend, and
keep their CashBox balance above N1,000.
Joining more rounds of challenge
will increase users’ chances of winning in the savings promotion. In the final
round of the challenge, lucky users with the highest trial cash will be drawn
to win an iPhone 15 or Phantom X2.
Trial Cash is a distinctive
reward designed to let you explore the benefits of the PalmPay App's
flexible savings feature. This is not real money, however, you get the
spendable daily interest of 16 per cent per annum for the Trial Cash.
Users can earn Trial Cash by
completing daily tasks on the PalmPay App within the period of the savings
challenge, such as transferring to a PalmPay account or adding money to their
PalmPay account from their bank account or agent.
In both instances, you get up to
N50,000 Trial Cash on your first three transfers above N1,000 or when you add
money to your PalmPay wallet from your bank or agent. The higher the single
transaction amount, the higher your Trial Cash reward.
You get N1,000 Trial Cash daily
when you top up your airtime or buy a data bundle above N500, and N2,000 Trial
Cash when you fund your betting wallet with above N2,000. Also, you are
rewarded with N100 Trial Cash daily by simply visiting the PalmPay homepage at
least once a day to complete your log-in task.
If you’re not a PalmPay user,
start your savings challenge at http://bit.ly/3QVhCN1 or by downloading the
PalmPay App via https://bit.ly/4805x0k
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