Digital Pay Expo 2026: PalmPay Advocates for Trust, Infrastructure and Responsible AI to Drive Payment Ecosystem Growth
Industry leaders, regulators, and payment experts have called for enhanced infrastructure, responsible utilisation of artificial intelligence (AI), and deeper cross-sector collaboration to unlock the next phase of growth within Nigeria’s burgeoning digital payments ecosystem.
The calls were made during the 2026 Digital Pay Expo, held in Lagos on 17 and 18 June 2026. This year’s event placed a strong emphasis on the transformative potential of AI, cybersecurity, cross-border transactions, and the broader aim of deepening financial inclusion across Africa.
Speaking at the event, Dr. Rekiya Yusuf, Director of the Payment System Supervision Department at the Central Bank of Nigeria (CBN), represented by Chika Ugwueze, Deputy Director, stated that Nigeria’s payment landscape is evolving rapidly from mere digital adoption to comprehensive digital transformation.
Yusuf highlighted that AI is emerging as a pivotal driver in this shift, particularly in real-time fraud detection and expanding financial access to underserved communities. “The goal is to make financial transactions seamless. AI is now driving innovation, helping in real-time fraud detection and helping to expand access,” she said.
She also acknowledged that significant gaps remain, especially concerning infrastructure and inclusion. Building a resilient digital market system in the AI era hinges on reliable connectivity, robust infrastructure, targeted talent development, and sustained capacity building.
Echoing the regulator’s call for a supportive ecosystem, Chika Nwosu, Managing Director of PalmPay Nigeria, emphasised that trust, access, and practical financial assistance are vital to enabling small businesses to participate more actively in Nigeria’s formal economy.
Nwosu pointed out that, while micro, small, and medium enterprises (SMEs) contribute an impressive 40 per cent to Nigeria’s Gross Domestic Product (GDP), limited access to credit and unreliable payment infrastructure continue to hinder their growth and scalability.
To foster genuine innovation, Nwosu argued that financial inclusion must go beyond merely providing accounts and enabling basic transactions; it requires establishing a foundation of trust and tangible economic empowerment.
“SMEs contribute 40 per cent of the country’s GDP. For us at PalmPay, we don’t just provide payment solutions to them; we also support them with the financial tools they need to expand and create jobs,” he stated.
He further stressed the importance of digital literacy, noting that a stronger understanding of digital tools and AI-enabled systems will be crucial in building long-term trust and participation across the ecosystem.
The discussions at Digital Pay Expo 2026 reflected a growing consensus within the industry: the future of African digital payments depends on getting the fundamentals right. This includes strengthening infrastructure, ensuring the responsible use of AI, enhancing cybersecurity, and fostering closer collaboration between regulators, fintechs, and other key ecosystem players.
For PalmPay, the event reinforced the importance of developing a payments ecosystem that is more resilient, more secure, and better equipped to support financial inclusion and scalable growth.