Transsion Holdings, the company in charge of TECNO, Infinix and Itel brands, has stormed the African mobile payments market with PalmPay, which launched recently. Reports have it that PalmPay is backed by $30 million $40 million in funding for its launch and activities in Africa.
PalmPay is a product of Transsnet Group, the joint venture between NetEase Group (NASDAQ: NTES) and Transsion Holdings Group.
PalmPay will provide services like grocery shopping, logistics, and ride-hailing services and so on.

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