Fintech companies like Opay and PalmPay were the biggest winners of 2024, gaining customers by offering more reliable transfers at a faster speed in a year plagued by bank glitches.
As traditional banks grappled with weeks of network outages, the amount transacted through mobile money apps increased by 69.58 percent to N79.55 trillion from N46.91 trillion in 2023, according to the Nigeria Inter-Bank Settlement System (NIBSS).
Since 2020, these transactions have grown by 2,507.94 percent. In volume, mobile money transactions jumped 28.74 p
