In 2018, OPay entered Nigeria as a super app offering ride-hailing (ORide) and food delivery services, but a combination of market realities and government policies forced the company to pivot in 2020 and focus solely on fintech.
Since that pivot, OPay has become a household name in Nigerian fintech.
Nigerians will always remember OPay as the fintech that came to the rescue during the epic 2023 cash crunch, when legacy financial institutions struggled to meet the pressing demands that ensued. A report by renowned consulting firm KPMG revealed that about 58% of Nigerians switched to fintechs such as OPay, Palmpay, and Moniepoint.
OPay’s extensive network of Point-of-Sale (POS) agents, coupled with its seamless transfers and zero-transfer fees, helped strengthen the brand’s image.
This singular episode endeared OPay to many Nigerians, especially the millions of unbanked individuals in the informal economy, who now trust the fintech. Following this massive success, OPay is
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