Fintech company, OPay, has reported that its user base has grown beyond 45 million, while its merchant network now exceeds one million businesses across Nigeria.
The company attributes this milestone to the accelerating adoption of digital payments and the continued spread of agency banking services nationwide.
Launched in Nigeria in 2018, OPay has steadily evolved into a key player in the country’s financial technology landscape. It has played a significant role in advancing financial inclusion and supporting the ongoing transition toward a more cashless economy.
Across cities and rural communities alike, the firm’s distinctive green Point-of-Sale terminals have become increasingly common in markets, transport hubs, roadside stalls, and neighbourhood shops. Many Nigerians now rely heavily on these digital channels for everyday financial activities such as money transfers, bill settlements, cash withdrawals, and other routine transactions.
The company’s growth mirrors a broader trend of rising fintech adoption among underserved groups, including small-scale traders, artisans, and residents in areas where access to traditional banking services remains limited. This shift has been driven by the need for more accessible and convenient financial tools.
OPay maintains that its core objective is to deepen financial inclusion through technology, particularly in emerging markets where large segments of the population are still outside formal banking systems. Its digital wallet platform is designed to provide low-cost, user-friendly financial services for both unbanked and underbanked users, while also aligning with Nigeria’s cashless policy direction.
Regulatory recognition has also followed its expansion. In 2024, the Central Bank of Nigeria honoured OPay with the Financial Inclusion Innovation Award, acknowledging its contribution to expanding access to financial services.
The company’s rapid scale-up has been fuelled by increasing demand for digital financial solutions among individuals and businesses across the country. On the consumer side, its mobile platform supports services including money transfers, airtime purchases, utility payments, debit card services, and savings features.
Internal company data shows strong growth in engagement, with monthly active transacting users increasing from 25.13 million in 2024 to 39.32 million by the end of 2025.
Beyond individual users, OPay has also developed a broad merchant ecosystem. This includes payment infrastructure for small and medium-sized enterprises as well as larger operators, offering Point-of-Sale terminals, QR code payments, online payment systems, and other digital tools that support day-to-day business transactions.
