Nigerians tap Opay, PalmPay, Moniepoint amid banks’ IT glitch

Opay, PalmPay, and Moniepoint are the winners of the ongoing technology upgrades by deposit money banks which have left many customers stranded, according to industry experts and feedback from Nigerians. This situation is reminiscent of 2023 when OPay and PalmPay experienced a surge in usage after traditional banks struggled to handle increased online transactions. In March 2023, both apps were Nigeria’s most-downloaded finance apps, and OPay became the country’s most-downloaded app by October 2023. Mobile money transactions, dominated by