Home Finance Opay vs Moniepoint: Which Is Better?

Opay vs Moniepoint: Which Is Better?

Opay and Moniepoint are two popular mobile money platforms that have gained significant popularity in Nigeria due to their unique features and convenience. While both platforms offer similar services, they differ in certain aspects that make them stand out from each other.

In this article, we will compare Opay vs Moniepoint, including their features to downsides, and tell you which is best among them. So, let’s start. 

About Opay

Opay is a mobile payment and financial services platform that operates in Nigeria and several other African countries. It was founded in 2018 by Opera Software, a Norwegian company that specializes in developing web browsers and other online services. The platform offers a wide range of financial services, including mobile money transfers, bill payments, airtime top-ups, and ride-hailing services.

Opay also offers other value-added services, such as loan and investment opportunities, and allows users to perform transactions directly from their mobile phones. The platform is designed to be user-friendly and accessible to everyone, with a simple and intuitive user interface that allows users to carry out transactions with ease.

One of the unique features of Opay is its partnership with several businesses and service providers, allowing users to make purchases and pay bills directly from the app. It also offers attractive discounts and promotions to encourage users to use the platform for their financial transactions.

Opay has gained significant popularity in Nigeria, particularly among young people who prefer to use mobile phones for their financial transactions. Its user-friendly interface, convenience, and affordability have made it one of the most popular mobile payment platforms in the country.

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However, like any other platform, Opay has its downsides, including occasional technical glitches, which can cause delays and inconvenience to users. It also has limited availability in some areas of the country, which can limit its usefulness to some users.

Features And Downsides Of Opay

Features of Opay:

  1. Mobile Money Transfers: Opay offers fast and secure mobile money transfer services to users, allowing them to send and receive money with ease.
  2. Utility Bill Payments: Users can pay bills for various services like electricity, water, and cable TV subscriptions through the Opay app.
  3. Airtime Recharge: Opay allows users to purchase airtime for their mobile phones from the app.
  4. Ride-hailing: Opay offers a ride-hailing service that allows users to book rides within the app.
  5. Food Delivery: Users can order food from their favorite restaurants and have it delivered to their doorstep through the Opay app.
  6. Investment Opportunities: Opay provides investment opportunities for users to grow their money through the platform.
  7. Bank Transfers: Opay users can transfer funds to and from their bank accounts through the app.
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Downsides of Opay:

  1. Limited Availability: The Opay app is only available in a few African countries, which limits its reach.
  2. Network Issues: Some users have reported experiencing network issues with the app, which can cause delays in transactions.
  3. Customer Service: Some users have reported poor customer service from Opay, making it difficult to resolve issues and complaints.
  4. High Fees: Some users have reported high transaction fees on the Opay platform, which can make it expensive to use for some services.
  5. Limited Services: While Opay offers a variety of services, it may not offer all the services that some users require.

About Moniepoint 

Moniepoint is a mobile money platform that allows users to carry out financial transactions such as funds transfers, bill payments, airtime and data purchase, and more. The platform was created by Moniepoint Limited, a fintech company that aims to improve financial inclusion in Nigeria by providing easy and affordable access to financial services.

Moniepoint offers a user-friendly mobile app that can be downloaded on Android and iOS devices. Users can easily create an account by providing their basic details and a valid ID card. The platform allows users to deposit and withdraw cash at any Moniepoint agent location across Nigeria, making it accessible to users who may not have access to traditional banking services.

One of the key features of Moniepoint is its low transaction fees, which makes it an attractive option for users who want to carry out financial transactions without incurring high costs. The platform also offers instant airtime and data recharge, and users can easily pay for their utility bills and other services through the app.

Features And Downsides

Here are some features and downsides of Moniepoint:


  1. User-Friendly Interface: Moniepoint has a user-friendly interface that makes it easy for users to navigate the platform and perform transactions.
  2. Fast Transactions: Moniepoint transactions are fast and efficient, allowing users to transfer money and pay bills quickly.
  3. Accessibility: Moniepoint has a large network of agents and outlets spread across the country, making it easily accessible to users.
  4. Security: Moniepoint uses advanced security protocols to protect users’ data and prevent fraud.
  5. Support for Multiple Transactions: Moniepoint allows users to perform a variety of transactions, including airtime purchases, bill payments, and money transfers.


  1. Limited Services: Compared to other mobile money platforms, Moniepoint offers a limited range of services.
  2. Network Issues: At times, Moniepoint users have reported experiencing network issues that can cause transaction delays or failure.
  3. High Charges: Moniepoint’s transaction fees can be relatively high compared to other mobile money platforms.
  4. Limited Integration: Moniepoint is not integrated with all banks and financial institutions in Nigeria, which can limit its usability for some users.
  5. Limited International Support: Moniepoint does not support international money transfers, which may be a downside for users who need to send money outside Nigeria.
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Opay and Moniepoint: Which Is Better?

Both Opay and Moniepoint have unique features and benefits that make them useful for different types of users. However, based on their overall performance and user feedback, Opay appears to be the better mobile money platform compared to Moniepoint.

Opay has a wider range of services, including money transfers, bill payments, and airtime purchases, as well as the ability to make international money transfers. It also has a more user-friendly interface and offers cashback incentives to users for transactions made through the platform.

On the other hand, Moniepoint has a more limited range of services, focusing mainly on money transfers and airtime purchases. It also has lower transaction fees compared to Opay, making it more appealing for users who prioritize cost-effectiveness.

However, despite Moniepoint’s lower transaction fees, Opay’s wider range of services and user-friendly interface make it the better option for most users. Additionally, Opay’s established presence in multiple countries outside Nigeria gives it an advantage over Moniepoint in terms of reach and global connectivity.


Which POS agent is the best in Nigeria?

There are several POS agents in Nigeria, each with its own unique features and benefits. Some of the popular POS agents in Nigeria include Moniepoint, OPay, PalmPay, Paga, and Quickteller.

What is the target for Moniepoint?

Moniepoint’s primary target is to provide convenient financial services to customers across Nigeria by leveraging technology to offer a fast, reliable, and secure payment system.

Is Moniepoint better than PalmPay?

Both Moniepoint and PalmPay have their unique features and benefits. While Moniepoint is primarily a payment service provider, PalmPay also offers additional services such as digital loans and investments. The choice between the two ultimately depends on individual needs and preferences.

How much does Moniepoint charge?

Moniepoint charges a fee of 0.6% per transaction, which is one of the lowest charges in the Nigerian payment industry.

How much does OPay charge per transaction?

OPay charges a fee of 1.5% per transaction, which is slightly higher than what some other payment service providers in Nigeria charge. However, OPay offers additional services such as ride-hailing, food delivery, and mobile airtime top-up.


In conclusion, both OPay and Moniepoint are reliable mobile money platforms in Nigeria. While OPay is more popular and has a wider range of services, Moniepoint is known for its competitive transaction fees and strong customer support. The choice between OPay and Moniepoint ultimately depends on personal preference and individual business needs. It is recommended to compare the features and fees of both platforms to determine which is the best fit for your specific requirements.