Leading 11 Fintech Companies in Nigeria (Mobile Money Apps)

Arguably to say that the Fintech companies in Nigeria are indeed revolutionising access to finance and banking services, with the consistent strategy of delivering outstanding features (products and services) to individuals and businesses in the country.

It almost seems like the top fintech companies in Nigeria are currently displacing some financial banks in Nigeria due to their outdated (none improved) way of serving customers.

Consider the consistent queue, delay in responding to customers, failures in interactions and more is triggering the spring up of many fintech companies in Nigeria, making the financial marketing space highly competitive as the target customers now have many choices from the array of companies offering innovative financial services via mobile apps.

However, it still doesn’t go rosy for some of the fintech in Nigeria, they have their lapses too. Without any kind of prejudice, we have listed the top Leading 20 Fintech Companies in Nigeria – also known to be offering a mobile app and POS services, including their flops, with reasons why you may want to go try them or not.

There are over hundreds of fintech companies in Nigeria springing up with their focus selling points. We can’t have them all listed here. So it is important to break things down.

Who are the Fintech Companies in Nigeria?

I think the first thing is to understand why these companies fall into the category of “Fintech”.

Fintech (known as “financial technology”) are those firms using new technology to compete with traditional financial methods in the delivery of financial services. They are up-to-date in the deployment of new tech to deliver seamless financial services. Artificial intelligence, blockchain, and cloud computing can as well be regarded as categories of the fintech industry.

Similarly, the fintech companies in Nigeria operate in a variety of ways, deploying technology to provide financial services more efficiently and effectively than traditional financial institutions.

Common Ways Fintech Companies in Nigeria Operate

Digital banking: Fintech companies in Nigeria offer digital banking services that allow customers to open and manage bank accounts online, make payments, transfer money, and access loans without physically visiting a bank branch. Examples of digital banks in Nigeria include Kuda, ALAT, and VBank.

Payment processing: Fintech companies in Nigeria also provide payment processing services that allow businesses and individuals to accept payments online and through mobile devices. Some examples of payment processing companies in Nigeria are Flutterwave, Paystack, and Paga.

Investment platforms: Fintech companies in Nigeria provide investment platforms that allow individuals to invest in stocks, bonds, and other assets. Examples of investment platforms in Nigeria include Cowrywise and Chaka.

Remittance: Fintech companies in Nigeria also offer remittance services that allow Nigerians living abroad to send money to family and friends in Nigeria more easily and cheaply. Examples of remittance companies in Nigeria include WorldRemit and Transferwise.

Credit scoring: Fintech companies in Nigeria also use technology to provide credit scoring and lending services to individuals and small businesses that may not have access to traditional banking services. Some examples of credit scoring and lending platforms in Nigeria are Carbon and Renmoney. However, you can also, find the same companies under Fintech’s digital banking category.

Overall, fintech companies in Nigeria are using technology to make financial services more accessible, affordable, and efficient for Nigerians.

List of Fintech Opportaing under Digital Banking

These Digital Banking Companies in Nigeria offer similar services, but after a series of research, results, and experiences gathered, we found reasons you may prefer one to the other.

Common features Among the Digital Banking Companies in Nigeria are;

  • Send and receive money
  • Allows you to pay bills
  • Recharge and buy data on your mobile, and to family and friends
  • Shop online
  • Again access to quick loan
  • Apply for virtual and physical ATM cards
  • Available options to create business and individual accounts
  • All the Fintech Companies in Nigeria listed here are licensed by the Central Bank of Nigeria (very important to take note of)

But outside those common features, there is still a difference among them.


Opay has been consistent in providing financial services to both individuals and businesses. It is a leading mobile money payment solution in Nigeria, allowing users to pay all types of bills from their Opay app.

Opay also provides various financial packages like loans, and saving money (daily interest credited into your account directly).

One KEY factor that keeps Opay (Paycom) Outstanding is customer care service. Whether as an agent, individual or/and business owner – you can easily access and communicate with Opay customer service through its OPay app. You can initiate live chat with real persons (Opay staff) and your issues will be attended to quickly.


PalmPay is also regarded as a top mobile banking company in Nigeria – as it waxes day by day with loads of features to keep its customers inciting. Similar to OPay and all other top Fintech Companies in Nigeria we have listed below, you can apply for loans, save mobile, page bills, send and receive money and more.

There are interesting packages available on PalmPay like 99 free transfers every month, which beats Kuda Bank as it only gives 25 monthly free transfers.

What we don’t like: Severally we have attempted to communicate with Palpay via its customer service both to no avail. We rather received a response from its Bot with an irrelevant response.

However, PalmPay still has a greater potential of waxing stronger, considering its consistent provision of a good network during transactions.


At first, if you notice how Kuda stated, it has been so interesting and encouraging to individuals and customers. Talk about quick receive and transfer of cash, the sign-up process and card application (inside the app) – Kuda has been topnotch.

It is too good to be true; Kuda bank also offers 25 free transfers every month-not up to what PalmPay offers though. Banking with Kuda will make you feel no lapses with your private financial banks in Nigeria.

Recently, Kuda also added a new feature (promising more features); offering every user the opportunity of owning a UK account in Nigeria-no form to fill out. That means you can receive money from the UK to Nigeria.


Carbon is another promising fintech company in Nigeria to consider using. Its services offered are no different from the rest mentioned on this page already. But with extra enticing features-free transfers and high-yield savings, buy now and pay later at 0% interest.

Carbon Bank’s customer service is poor to the root. During our research, we have met with a series of individuals talking negatively-specifically about customer service. They never respond to messages, or emails and the contact care service on its app seems to be for decoration.

For it not to seem like we have depended only on the though and experiences of others, one of our team decided to also create a download Carbon mobile app and sign up for the account. Along the process, a different phone number (not linked to BVN) was used to create the Carbon account. That has made Carbon reject the completion of the account up to the tier 3 level of the account.

Several messages have been sent via email and app – but with no positive response. We have also requested that the account should be shut down since the account issue can’t get resolved, and still been no response for over 2years to date.

However, Carbon has attractive packages like Kuda and Opay. But you may also want to think twice whether working with a 0% response customer service or going for better alternatives.


Like every other fintech companies in Nigeria, you can send, receive, recharge, buy data, and pay bills. But over the years, MoniePoint is waxing in the area of OPS Agent business due to its stable network flow and agents benefits.

Hopefully to see more innovations and features coming into MoniePoint because as of when this post was published, we could only find the traditional (common) mobile banking features as mentioned above.


Flutterwave has been the most popular fintech company in Nigeria and Africa at large. You will be able to send money across selected African countries including Nigeria. That is, you can send money locally and internationally.

For example, if you’re sending money from Nigeria to other African countries like Ghana, you can send in naira (from your Flutterwave account) while the recipient gets the money in Ghana cedis. The same way it goes on other countries Flutterwave supports.

Before now, it was possible to shop internationally using the Flutterwave virtual Master dollar card by Flutterwave-converting some or the whole of your main account to dollars. But that is no longer part of an existing feature in the Flutterwave account.

Generally, Flutterwave allows you to send and receive money, and pay bills. That’s all you can do for now.


Eyowo also has the financial tools you need to improve your financial lifestyle – in one place all transactions are possible. It stands out among the few Fintech apps in Nigeria when it comes to growing your money. That is, you get instant interest on every money you save.

It is very uncommon to have Fintech providing Master-card physical or virtual – which is the exact Eyowo offers to users.

Aside from that, all other primary financial services (sending & receive money, paying bills and recharging & buy data) are still very much possible.


FairMoney is another Micro finance-fintech app loaded with interesting features to keep you transacting in one spot. Like others, on here you can also send and receive money, pay bills and more.

Although there are other uncommon features available on the FairMoney bank app, that is; giving you 30 free bank transfers anywhere across Nigeria every month, earning instant interest on your savings (like OPay), and providing instant loans of up to one million nairas with no collateral or paperwork required.


Over the years ChipperCash has invested in advertising its products and services. But on the other hand, it is worth trying out. ChipperCash has fantastic features that lure you in using its product.

Aside from the common features you already know other fintech companies in Nigeria offer, ChipperCash also allows you to own a Visa dollar and Naira card, to enable you to shop on any platform that Visa allows globally. The exact service Flutterwave stopped providing.

The other which might sound even more interesting is the ability to start investing in the USA stocks directory from Nigeria. From your ChipperCash app, you can start investing with as little as $1 (check today’s conversion rate of $1 to Naira) on top US stocks like Meta, Google, Intel, Disney, Apple, Amazon, Nike, Tesla, McDonald’s, and more.


Paga is one of the oldest fintech companies in Nigeria, yet still functions perfectly with the common financial tools to send and receive money, buy recharge and data, and pay bills.

But there is something uncommon about Paga, which you haven’t had since the listing of these top fintech apps in Nigeria, and that is, Paga offers remittance services. In addition to that it claims to have over 17 million users and is accessible to unbanked, offline users through a mobile money agent network as well.


NowNow is one of the recent fintech springing up with no special features though. But one unique feature that’s making it stand out is the ability to save and earn interest. Plus it offers Naira Master cards to users.


The end of Fintech is nowhere close, therefore, more fintech companies will spring up in Nigeria. So to say that the giant is yet seen-as the existing ones still have their individual downside. We have carried out our review with no bias and we expect you to try them out.

Fintechs are now becoming the better option as they do not charge their customers for account maintainance and card maintainance. Even some of the fintechs in Nigeria also gives zero cost transfer fee every month.

We, on our end, shall be work with as many as we can to enable us keep providing unbais review of these fintech companies in Nigeria. So stay turned!

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