Infinix Announces Infinix Wallet in Partnership with PalmPay

Intelligent, Secure & Efficient Digital Finances

SHANGHAI, April 19, 2022 /PRNewswire/ -- Infinix today launched the Infinix Wallet, a digital wallet app co-developed with mobile financial services platform PalmPay, with the aim of building a multi-dimensional digital life ecology for Infinix smartphone users that integrates financial services and various payment scenarios into a simple and secure ecosystem. Infinix aims for mobile phone users to have the ability to easily complete credit and balance account applications, mobile phone top-ups, daily shopping, money transfers, and more with simple operations on their mobile phones making their digital finances simple and secure.

PalmPay is a leading pan-African fintech organization that provides diverse and localized digital financial services to tens of millions of consumers through its innovative technology and service capabilities. Infinix has partnered with PalmPay to create a digital wallet that meets the needs of consumers by combining their resources in financial technology, customers, and expertise in the industry.

"We have benefited from the incredible developments of the digital economy and are fortunate to take a key role in building this digital ecosystem. PalmPay delivers its innovative financial technology and extensive service experience. Together, Infinix and PalmPay will provide consumers with an unparalleled digital financial service experience. In the future, Infinix will work with more partners to extend the scope of Infinix Wallet services to cover more application scenarios to simplify digital finances for end-users." Skye Chen, Head of Global Public Relations of Infinix.

"Infinix is a leading enterprise in terms of market power and brand influence among African consumers. The partnership between Infinix and PalmPay will accelerate the rapid adoption of digital wallets, and connect valuable and high-quality services to end-users in more countries and regions. Additionally, it will also drive the rapid development of the digitization of financial services." Sofia Zab, Chief Marketing Officer of PalmPay.

Instant Credit is a featured digital credit account for Infinix mobile users that offers a minimalist and convenient experience for users. Without the complicated application process of a traditional credit card, users can quickly open an Instant Credit account with third-party financial institutions and use credit to pay as they go, allowing for a quick turnaround of small payments.

Instant Credit helps users to build their personal credit profiles with the Infinix Wallet by providing a high initial credit limit, which allows users to increase their credit line over time building up a credit history by making payments on time. Instant Credit also provides Infinix users with customized benefits such as zero processing fees, zero account management fees, zero annual fees and free interest of up to 16 days.

Infinix Wallet enables full online management of all users' bank cards, providing a digital, visual and card-less fund management experience. By adding a third-party bank card to Infinix Wallet, a user can check balances, transfer funds, pay for goods, make repayments and classify spending statistics. This combined provides an intelligent, convenient and clear view of personal wealth management, income and expenses.

With services being offered constantly expanding, the Infinix Wallet is set to become the one-stop shop for digital finances in emerging markets where Infinix products are popular by integrating daily user spending including topping up talk time, data and utility bill payments so that users can tap & pay and get on with their day.

In addition, Infinix Wallet has also connected with local merchants offering users a wealth of rebate benefits such as cashback on payments, discounts, loyalty rewards, membership points and more allowing users to spend less and save more.

The Infinix Wallet features a multi-layered security system to safeguard user privacy and payments ensuring customers can tap & pay with peace of mind. Being user-centric by design, the Infinix Wallet protects user data by making sure the user fully owns their own data and has knowledge over any collection, usage, processing, retention or deletion if applicable. The Infinix Wallet is also fully compliant with GDPR and international information security standards including PCI DSS and ISO27001. Additionally, Infinix Wallet works with third-party licensed financial institutions besides PalmPay that provide payment and other financial services in various countries to continuously protect user funds and payments through various technological means such as security information comparison, dynamic password verification, risk monitoring system protection and more.

Looking to expand the user experience beyond value and price, the Infinix Wallet aims to provide a seamless digital financial experience to users across emerging markets economies. Beginning with the current alpha test release, the Infinix Wallet will launch in markets starting in May with Nigeria, Kenya, Ghana. Launch will commence in Tanzania during July and Uganda, Côte d'Ivoire and Senegal during September. Future releases will be announced on Infinix social media channels.

About Infinix:

Infinix Mobile is an emerging smartphone brand that designs, manufactures and markets an expanding portfolio of mobile devices worldwide under the Infinix brand which was founded in 2013. Targeting Generation Z, Infinix focuses on developing cutting-edge technology embodied in meticulously designed mobile devices that offer refined style, power and performance. Infinix devices are trendy, energetic, attainable & progressive with the end-user at the forefront of every step forward.

With "THE FUTURE IS NOW" as its brand essence, Infinix aims to empower today's youth to stand out from the crowd and show the world who they are & what they stand for.

The company's portfolio of products is sold in more than 40 countries around the world, covering Africa, Latin America, the Middle East, Southeast Asia, and South Asia. Expanding at a phenomenal rate, Infinix grew an unprecedented 157% during 2019-2021 and has huge plans to continue creating premium designed flagship-level devices offering striking designs and strong value propositions.

For more information, please visit: http://www.infinixmobility.com/

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