Here’s why OPay is referred to as “Bank”

Here’s everything you need to know about OPay being a bank in Nigeria.

Here’s why OPay is referred to as “Bank”

If Nigerians are talking about banks, digital banks like OPay, PalmPay and Moniepoint cannot be left unmentioned. Digital banks (also known as Fintechs) and traditional banks are the major players in Nigeria banking landscape. In today’s article, I will be talking about OPay as a digital bank in Nigeria and why people trust the fintech app more than long existing commercial banks. OPay Bank in Nigeria Rest of World calls it “app that revolutionized money transfers in Nigeria.” OPay Digital Bank is a reputable financial company in Nigeria. The company has an app that’s very popular among households in the country. OPay isn’t just Nigeria’s most popular fintech app but also its most downloaded one in the Nigeria Google Play Store and Apple Store in 2024 before it’s outranked by Temu—the latest e-commerce app. Why OPay Bank? OPay uses technology that doesn’t rely on traditional banking system. This technology allows anyone using OPay to transfer, withdraw and pay bills seamlessly and instantly…

About the author

Temmy Samuel is a seasoned journalist with extensive experience in consumer tech, economy, finance, business, money and politics. Currently, he’s studying Accounting at the Federal University of Oye-Ekiti.

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