Businessday Ng- OPay, PalmPay, and Over Wallet have surfaced as the most popular fintech apps for the month of July, according to a report from StatiSense.
StatiSense added that Newcredit, OKash, Palmcredit, OPay Business, FairMoney, Moniepoint, and EaseMoni made up the top 10 most popular apps that Nigerians can not get enough of.
Though the statistical company fell suddenly in furnishing details on the number of new guests to- business, number of client engagements, volume, and value of deals carried out by these companies, it, still, grounded its findings on data sourced from SimilarWeb, a digital intelligence company quoted on the New York Stock Exchange.
In early 2023, when the Central Bank of Nigeria( CBN) introduced a restriction on cash limits for Nigerians, a situation that mounted a lot of pressure on the ICT structure of all the marketable banks, utmost of the fintech companies served from the chaos as they endured an upsurge in client ombudding and engagement.
PalmPay, Opay, and Moniepoint came commonplace and have ago been passing growth in new client sign- sways and engagement.
This was helped by the poor service delivery witnessed by utmost of the marketable banks until the CBN decided to extend its deadline for a full transition to a cashless frugality to December 2023.
Read also Moniepoint, Opay eye expansion as request thunderclaps In a July 2023 report by BusinessDay named “ How two Chinese fintechs dominated Nigeria’s PoS arena, ” it was revealed that OPay took the Point of trade( PoS) throne with an admiration- inspiring 563,262 agents.
PalmPay thundered onto the scene, unveiling a triumphant PoS army of 500,000 agents.
The icing on the fintech cutlet? A stunning 2 million banking and mobile plutocrat agents, as revealed by the 2023 State of the Industry Report on Mobile Money.
Both companies reckoned for at least 50 percent of the agency banking request in Nigeria, as the report has shown.
According to Statista, the digital payment request in Nigeria is estimated to be around$ 17 billion in 2023, a situation that strategically positions these fintech companies to take utmost of these moneybags.
It was reported that digital payments will regard for17.3 percent of sale value change by member in 2023.
Just five months agone, Opay crossed the 30 million client corner, a remarkable achievement for a establishment that has been in the fiscal banking space for lower than five times in Africa’s biggest frugality.
Replying to this report on Twitter, utmost opinions gathered showed that the leading companies strides have been well appreciated and valued, especially during the turbulent times when marketable banks faced challenges meeting guests online sale demands. “ Opay remains the stylish choice for business, ” Enado said. Another replier, Maxi, said, “ No, be taradiddle .I've used Opay like five times this morning. ” MDXi, AMS- IX mate to drive content growth in West Africa Rema breaks King Sunny Ade’s 41- Time-Old Billboard Record DSTV exits Malawi after court blocks essay to raise subscriber freights Bolt introduces listed lifts to ease riders ’ reserving stress Business Day, established in 2001, is a diurnal business review grounded in Lagos.
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