OPay leads Nigerian financial apps as fintechs outpace banks

Fintech platform OPay is installed on 69% of smartphones surveyed across 12 major Nigerian cities, giving it a significantly stronger presence than individual traditional bank apps, according to a new study.

According to Nairametrics, the KPMG and Orange Group Nigeria study found that PalmPay followed OPay with 29%, while Moniepoint recorded 14%, Kuda 8% and PayPal 7%.

Among traditional banks, Access Bank had the highest presence at 16%, followed by UBA and GTBank at 11% each. FirstBank recorded 10%, while Zenith Bank was installed on 9% of surveyed smartphones.

KPMG linked the growing use of fintech and mobile banking applications to increasing demand for convenient, instant payment services and greater smartphone adoption.

The study showed smartphone ownership in Nigeria rose from 64% in 2023 to 75% in 2025.

Consumers increasingly use mobile applications for transfers, bill payments, airtime purchases and account management, intensifying competition between fintech companies and traditional banks for space on users’ devices across the country today nationwide.