OPay vs PalmPay

traditional vs traditional · from the open dataset of 357 tracked neobanks · no affiliate links, ever

OPay: 60M+ users; agent-network powerhouse.

PalmPay: 35M+ users; Transsion-backed.

Side by side

	OPay	PalmPay
Category	traditional	traditional
Audience	underbanked	underbanked
HQ	Lagos, NG	Lagos, NG
Founded	2018	2019
Custody	Custodial	Custodial
Regulation	Payment institution	Payment institution
Licence detail	Payment licences (NG)	Mobile money licence (NG)
Card	Verve/MC · Debit	Verve/MC · Debit
Cashback	Offers	Offers
Yield	Daily interest (Owealth)	Daily interest
Stablecoins	No	No
KYC	Yes	Yes
Regions	Africa	Africa
Reported users	60M users (2024)	35M users (2025)

go deeperFull profiles: OPay · PalmPay — or run your own comparison of up to four in the directory.

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.