OPay
Opera's super-app bet on Nigeria; 60M users via a massive street-agent network.
60M+ users; agent-network powerhouse.
- Who holds it
- A licensed payment institution holds your balance in a safeguarding account — Payment licenses (NG).
- The ledger
- The payment institution’s own ledger.
- If it fails
- Safeguarded funds are returned in administration — ring-fenced, but access can be frozen and slow.
Derived from OPay’s regulation type and custody — a class of protection, not a guarantee. Limits and eligibility vary by scheme, balance and jurisdiction; confirm before you rely on it. What happens if a neobank shuts down →
The facts
| Category | traditional · underbanked |
| HQ | Lagos, NG |
| Founded | 2018 |
| Custody | Custodial |
| Regulation type | Payment institution |
| License detail | Payment licenses (NG) |
| Card | Verve/MC · Debit |
| Cashback | Offers |
| Yield | Daily interest (Owealth) |
| Stablecoins | No |
| KYC | Yes |
| Active regions | Africa |
| Countries | Nigeria, Egypt |
| Reported users | 60M users (2024) |
| Founders | Yahui Zhou (Opera) |
| Funding | ~$570M raised |
Verified links: official site ↗ · terms ↗ · privacy ↗ · @OPay_NG ↗
Common questions about OPay
What is OPay?
OPay is a fiat neobank built for underbanked, headquartered in Lagos, NG and founded in 2018. Your money is held custodially, so OPay or its partner bank holds the balance and you hold a claim on it. It is regulated as a payment institution (Payment licenses (NG)).
Does OPay have a card, and where can you use it?
It issues a Verve and Mastercard debit card. It is available in 2 countries, across Africa.
Does OPay require KYC?
Yes. OPay requires identity verification (KYC) to open an account, as a payment institution.
What does OPay cost?
From the verified fields: cashback Offers; yield Daily interest (Owealth). Cashback and yield are "up to" figures that change constantly and often depend on a paid plan — confirm current terms with OPay before relying on them.
Early investors
Head-to-head
OPay vs Kuda · OPay vs PalmPay · OPay vs Wave
Peers
Wise · TymeBank · PalmPay · Bank Zero · Discovery Bank · Kuda
OPay appears in
Neobanks authorised as payment institutions (13) · Neobanks available in Africa (92) · Neobanks built for the underbanked (23) · Neobanks that issue a Mastercard (150) · Neobanks on domestic card networks (16) · Neobanks in Nigeria (15)
Figures compiled from public sources, for comparison only — not financial advice. "Up to" rates change constantly; always confirm with the issuer. Spotted an error? Suggest a fix.