ATM Card is one of the major payment methods for Nigerians. At least, card payments take 60% in the country. This highlights the importance of a debit card. Almost every account holders in Nigeria has a debit card. It can be Mastercard, Visa card or verve card—which is the most common debit card among mobile money providers’ customers.
In August 2024, PalmPay officially launched its debit card to customers. Before, the mobile money operator was issuing a QR card to customers. The PalmPay’s QR card works exactly like a Debit Card but doesn’t possess a chip that can be scanned by ATM or POS machines. Instead, it possesses a scannable QR code and number that can be used to withdraw money directly from a linked PalmPay account.
This QR card is what PalmPay offers for years even when OPay’s been offering both virtual card and physical debit card to its customers. Meanwhile, one thing that these mobile money operators fail to offers to their customers is MasterCard and Visa Card.
I don’t know why but I’m certain that many financial institutions companies in Nigeria are facing price and fees challenges with card processing companies. This can be the major reason they’re using Verve because it may give them some relief compared to other card processing companies in Africa.
Furthermore, Verve is a Nigerian Pan-African and multinational financial technology and payment card brand owned by Interswitch Group. So, being a local card processing company, the exchange rate fees will be eliminated, reducing cost for fintech companies that rely on them to provide debit cards for customers.
However, one of the major challenges of a Verve Card is that it’s not widely accepted. Precisely, a verve card cannot be used to carry out international transactions like paying on AliExpress. It can only be used on websites that accept naira as their primary payment currency. Verve card can also be used on streaming platforms because the platforms accept naira payments.
The price of PalmPay ATM Card
The PalmPay’s ATM card costs N2,500 as of January 2025. The amount is splits into two; the card creation fee which is approximately N1000 and the delivery/logistics fee which is N1500.
However, if you have a card coupon on your account, you can get a reduction in cost by N500. The PalmPay’s Card Coupon is N500 and it’s limited by time. From the time you click on “ATM Card” button on your dashboard, the countdown of the expiry time will begin. You only have 10 hours to use the coupon before it expires.
Another thing to consider when requesting for ATM Card on PalmPay is CardCare+. CardCardPlus is a service on the PalmPay that allows users to replace their card for free if missing, stolen or lost. The service also helps to automatically renew card when it expires.
Must Read: How to instantly block PalmPay account with USSD code when phone or ATM card is stolen.
The CardCarePlus service incurs for an approximate fee of N400. You can wish to opt-in the option when requesting your debit card and you can opt-in and out anytime you want.
In total, requesting the PalmPay’s ATM Card—including using of the free coupon and opting-in for CardCare+ services—would cost you approximately N2,400.
So, if you’re cool with the price, you can login to your PalmPay account via app, tap on “ATM Card,” fill your designated address and make payment for the card using your PalmPay Balance. The card will be shipped to the submitted address within seven business days. You can also get a call regarding updates about the card.
PalmPay Debit Card vs OPay Debit Card
OPay Debit Card Fee is clear and easy to understand. The mobile money operator does not charge card issuing fee and does not charge card maintenance fee. The only fee which OPay charge for its card is delivery/logistics fee which is N2000 in 2025.
On the other hand, PalmPay does not charge a maintenance fee but it charge fees for logistics and issuance. The approximate cost for PalmPay debit card in 2025 is N2500.
However, one of the advantages of using OPay debit card is that OPay has many card sales agents out there who can deliver the a debit card to you within 24 hours for as low as N1000. This will save you cost of delivery—you just have to pay the super agent for an issuance fee of N500 and service fee of N500, making N1000 in total.
| Feature | OPay Debit Card | PalmPay Debit Card |
|---|---|---|
| Card Issuance Fee | None (if using standard delivery: N0) | Approx. N2500 (includes logistics) |
| Card Maintenance Fee | None | None |
| Delivery/Logistics Fee | Standard delivery: N2000 | Included in the total cost of N2500 |
| Alternative Delivery Option | Super agent: N1000 (Issuance: N500, Service: N500) | Not specified |
| Delivery Time | Standard: N2000 (up to several days) / Super agent: 24 hours | Not specified |
In conclusion, both OPay and PalmPay debit cards offer fee-free maintenance, but they differ significantly in their cost structures and delivery options. OPay provides flexibility of faster and cheaper delivery through super agents for as low as N1000. But on the platform, you will get the debit card for N2000.
On the other hand, PalmPay’s total cost of N2500 includes logistics and issuance but lacks the alternative delivery options that OPay offers. Overall, OPay appears to be more cost-effective and convenient for users seeking quick delivery.
FAQs
How can I apply for PalmPay ATM Card?
You can simply request for the PalmPay Debit Card in your PalmPay Account via the PalmPay App. If you're a registered users, just login to your account, click "ATM Card" confirm your address and make payment using your palmpay balance. However, if you don't have the PalmPay App, go-to Google Play store for Android phone or Apple App store for iPhone to download the PalmPay App.
Where can i get PalmPay ATM Card?
Unlike OPay, you cannot get the PalmPay ATM Card through super agents or card sales agents. You can only get the debit card through your PalmPay App.
How do I activate my PalmPay ATM Card?
Once your PalmPay's ATM Card is delivered, open the package and bring out the card. You will see a handbook in the package and the card details including card numbers, CVV and Expiry date will be written on the handbook. Now, login to your PalmPay account >> click on "ATM Card" >> "Receive Card" >> "Activate Card" >> "Enter Card Number", "CVV" and "Expiry Date". Confirm to link the card to your PalmPay account and you be asked to set your transaction PIN. The PIN is a 4-digit code.
What is the PalmPay ATM Card Limits?
The Withdrawal limit of PalmPay ATM Card depends on on the account Tiers. If you're a Tier 2 user, you will get a daily limit of ₦200,000 withdrawable on both POS and ATM.
