Opay Dominates Nigerian Fintech with 69% Smartphone Use

A study conducted by KPMG Nigeria in collaboration with the Orange Group indicates that Opay is the leading fintech payment app in Nigeria, achieving a remarkable 69% smartphone penetration in 2025. The report shows that other apps like PalmPay, Moniepoint, Access Bank, and United Bank for Africa (UBA) have smartphone penetration rates of 29%, 16%, 11%, and 11% respectively.

Traditional banks such as GT Bank, First Bank, and Zenith Bank recorded lower penetration rates of 8%, 8%, and 6%. The study emphasizes that fintech platforms are transforming financial access in Nigeria, with Opay, PalmPay, and Moniepoint being the top three apps among Nigerian smartphone users.

As smartphone adoption increases, mobile devices are becoming the preferred means for conducting financial transactions. The report, titled “Nigeria Smartphone Study: A Nationwide Analysis of Smartphone Ownership and Digital Application Usage,” surveyed 13,251 respondents across 12 major Nigerian cities.

Mr. Lawrence Amadi, Partner and Head of Technology, Media and Telecommunications at KPMG Africa, stated that the findings provide a timely assessment of Nigeria’s evolving smartphone and mobile application ecosystem.