Mobile Money Operators In Nigeria You Should Know

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To help us understand mobile money operators, let’s begin with the definition of what mobile money (or mobile payment) is.

Mobile payment refers to financial transactions that we can do over the phone or a similar portable device such as a tablet. Instead of transferring cash, check or credit cards – the transaction can be done with just a phone for a plethora of goods and or services.

In Nigeria, this concept is becoming popular, primarily because it goes in line with the Government’s plan to have a “cashless society”. Leading the way are various apps available to consumers. These apps are available to send money to family and or friends. They are also available in stores by scanning a barcode or through the use of a code.

We’ll be discussing at length six major apps available in Nigeria: Opay, Firstmonie, Momo, Paga, Konga Pay and Palm Pay.

Six Mobile Money Apps in Nigeria

1. Opay

They launched this app from the FinTech company, Opera. From its inception, Opay focused on making sure that it incorporated a lot of financial services available to consumers such as payment of bills, buying goods and services such as preparing meals for orders and paying for them.

An addition to these services is the fact that Opay agents own their shops and therefore can accept payments on the application. They pushed the reputation of Opay through roadside vendors and supermarkets, making it accessible to everyone.

2. Firstmonie

This mobile payment application belongs to Firstbank, one of the major banks in Nigeria. This app has gained quite a reputation with close to 40,000 agents across the country.

Users use this platform to conduct transactions such as payment for Satelite TV, transfer of funds to friends and family, and airtime purchase. Firstbank account holders can also be guaranteed of fast and secure transactions on this app.

3. Momo

This mobile payment application belongs to the largest telecommunications company in Nigeria, MTN. Similar to other platforms, it can be used to send and receive money across Nigeria. With close to 800 agents across the country, transactions are simple to conduct primarily since we know MTN for having an extensive network cross country.

4. Paga

This is a free application that enables users to conduct free financial transactions. Users can use this application without the exchange of any cash; this works exceptionally well in supermarkets or shops that support this function.

5. Konga Pay

Konga, an eCommerce platform, launched this platform. Initially, this platform was only available on the eCommerce platform; however, it has gone beyond that and now can transact between peer to peer, subscriptions to DSTV and other payments. This app also features discounted rates for the Konga platform.

6. Palm Pay

Apart from the regular financial services as with other apps, one can accrue points with this platform which in turn converts into discounts on goods and services. Although entirely new, it is growing popularity among Nigerians. Bill payment on this platform is also quite appealing as you can earn 5% cashback.


These apps have fueled the ease of making financial transactions. All of them are available on the Google Play store of the Apple App Store.

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