• Latest
  • Trending
  • All
How Palmpay’s Debt Collection Method Becomes a meme on Social Media

How Palmpay’s Debt Collection Method Becomes a meme on Social Media

NNPC Boss Ojulari Allegedly Forced to Resign

Presidency opens up on Alleged ‘Forceful Resignation’ of Ojulari as NNPC Chairman

Boxing legend Muhammad Ali’s brother dies

Boxing legend Muhammad Ali’s brother dies

NNPC Boss Ojulari Allegedly Forced to Resign

NNPC Boss Ojulari Allegedly Forced to Resign

FG Plans Mandatory Drug Tests for Undergraduate Students, Reveals Commencement Date

FG Plans Mandatory Drug Tests for Undergraduate Students, Reveals Commencement Date

Angry Youths loot CBEX Office in Ibadan [Video]

EFCC Gives Update on CBEX Funds Recovery

Dino Melaye dumps PDP, says ‘Party is impotent’

Dino Melaye dumps PDP, says ‘Party is impotent’

When Wolves Wear Sheep’s Clothing by Fatimah Hamid

Killer Of Kwara Final-Year Student Sentenced To Death

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

CAC sets Deadline to delist 100,000 Dormant Companies

CAC sets Deadline to delist 100,000 Dormant Companies

Court orders NYSC to allow Skirts for Female Corps Members

Court orders NYSC to allow Skirts for Female Corps Members

Nigerian Government sets New Entry Age for Admission to JSS 1

Nigerian Government sets New Entry Age for Admission to JSS 1

Пориньте у світ виграшів, де goxbet вход відкриває безмежні шанси для справжніх поціновувачів азарту

  • About Us
  • Advertise with Us
  • Editorial Policy
Sunday, August 3, 2025
  • Login
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus
No Result
View All Result
iDeemlawful
No Result
View All Result
No Result
View All Result
iDeemlawful
  • Home
  • News
  • Featured
  • Politics
  • Commentary
  • Editorial
  • Campus
Home Breaking News

How Palmpay’s Debt Collection Method Becomes a meme on Social Media

by Afeez Ayinde Saheed
June 27, 2023
A A
How Palmpay’s Debt Collection Method Becomes a meme on Social Media
FacebookTwitterWhatsapp

Fintech startups rarely become the subject of viral memes and TikTok videos, but Palmpay, a Chinese-backed digital wallet product, is the subject of plenty of social media ridicule.

Most of the joke formats have the same theme: Palmpay agents will do anything to collect loans from defaulting borrowers.

In some videos, agents can be seen chasing, dragging and even verbally and physically abusing defaulters.

RelatedPosts

FCCPC Replies Meta’s threat to Quit Nigeria over ₦220 Million Fine

Meta Speaks on Why its Launched Threads App to Compete Twitter

FG Drags Facebook Owner, Meta, To Court, Demands N30 Billion

CBN Reacts To Rumor Of Suspending OPAY, PALMPAY Accounts

These types of jokes have become so popular that social media users have created fictional scenarios around these debt collection methods.

The social media saga cannot be ignored and two weeks ago PalmPay issued a statement denying claims that their collection agents had harassed people.

PalmPay reiterated this in a statement shared with our source via email. Part of the statement read: “We are aware of defamatory internet memes in recent weeks and would like to reiterate that they are not based on reality and that the so-called PalmPay agents depicted are in no way associated with our company.”

PalmPay has grown in popularity since its launch in 2019, and the fintech is popular for its fast payment processing.

According to Semaphore, Palmpay is one of the biggest beneficiaries of Nigeria’s controversial currency conversion policy.

But Palmpay’s digital lending business is very popular, with rates ranging from 15 to 30% for payday loans.

Like most digital lenders, Palmpay loans are instant and users only need to download the app. But as many digital lenders understand, getting the loans is the easy part, getting people to pay back is the hard part.

There have been reported cases of unethical practices used by the Palmpay’s agent in attempt to recover the loan when the borrower defaults.

Most of the tactics involved public shaming, calling and texting the borrower’s contacts to force them to repay the money.

Our source confirmed to have received a call from a PalmPay agent to say that “someone on my contact list has defaulted on a 10,700 loan.

“They also sent me a picture of the said contact on Whatsapp with the contact’s name, phone number, BVN and date of birth. “Wanted” was also written on the picture.

Meanwhile, PalmPay insisted that the calls could not have been from their customer service representatives.

In a statement, PalmPay said the company does not share customers’ BVN information. “We have strict guidelines regarding collection practices. Sharing is not our policy

“User data such as BVN, photos or phone contact lists. We want to assure our users that we have policies in place, and if we find that these policies are not being followed, we will take immediate action to enforce them.

“We are conducting a full audit of Flexi and its lending process and have put in place stronger monitoring systems.

Despite the company’s insistence, hundreds of comments on PalmPay’s Facebook and Instagram accounts complain of harassment by agents or customer service representatives. It has become so common that the company is now known more for its brutal debt collection methods on social media than for actual loans. Many debt collection methods raise serious privacy and ethical concerns.

Original texts supply: TechCabal

Tags: FacebookInstagramPalmpay
Previous Post

CAF Rejects Sierra Leone’s Offer to Host Super Eagles

Next Post

FG Drags Facebook Owner, Meta, To Court, Demands N30 Billion

Afeez Ayinde Saheed

Afeez Ayinde Saheed

Related Posts

NNPC Boss Ojulari Allegedly Forced to Resign
Breaking News

Presidency opens up on Alleged ‘Forceful Resignation’ of Ojulari as NNPC Chairman

NNPC Boss Ojulari Allegedly Forced to Resign
Breaking News

NNPC Boss Ojulari Allegedly Forced to Resign

FG Plans Mandatory Drug Tests for Undergraduate Students, Reveals Commencement Date
Breaking News

FG Plans Mandatory Drug Tests for Undergraduate Students, Reveals Commencement Date

Angry Youths loot CBEX Office in Ibadan [Video]
Breaking News

EFCC Gives Update on CBEX Funds Recovery

When Wolves Wear Sheep’s Clothing by Fatimah Hamid
Breaking News

Killer Of Kwara Final-Year Student Sentenced To Death

Girlfriend stabs Boyfriend to Death in Ondo for Cheating
Breaking News

Girlfriend stabs Boyfriend to Death in Ondo for Cheating

CAC sets Deadline to delist 100,000 Dormant Companies
Business News

CAC sets Deadline to delist 100,000 Dormant Companies

Court orders NYSC to allow Skirts for Female Corps Members
Breaking News

Court orders NYSC to allow Skirts for Female Corps Members

Nigerian Government sets New Entry Age for Admission to JSS 1
Breaking News

Nigerian Government sets New Entry Age for Admission to JSS 1

Breaking News

Пориньте у світ виграшів, де goxbet вход відкриває безмежні шанси для справжніх поціновувачів азарту

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

iDeemlawful

Copyright © 2019–2025 Deemlawful Media

  • About Us
  • Advertise with Us
  • Editorial Policy

Connect With Us

No Result
View All Result
  • Home
  • News
  • Featured
  • Politics
  • Life Style
  • Advertise with Us
  • Opinion
  • Campus

Copyright © 2019–2025 Deemlawful Media

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In