Business and Finance

Opay vs M pesa: Which is better?

Mobile banking is not a new thing in Nigeria, and even Africa as a whole, since its inception, it has paved the way for business owners and business-related people, they can now transact at their convenience without the need of them heading to any banks or ATM.

For this content we would be looking into, something more interesting, which a lot of people have been willing to hear, we are going to analyze the two digital financial giants, which are; Opay and M Pesa, and also determine which is the best.

It is very obvious that; Opay stands out as one the leading Fintech companies in Nigeria, but there are several misconceptions, on whether it is the same as M Pesa, this is exactly what we are going to do in this piece, clearing all the doubts and misconceptions.

Opay Vs M Pesa

Opay is a digital banking platform owned by Opera Software AS, while M Pesa is owned by a telecommunications company in Kenya called; Safaricom.

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Both Opay and M Pesa are digital payment platforms, which can be used for sending and receiving money, alongside making other related financial transactions.

Despite the fact Opay’s founder is a Chinese, The app only has its presence in Nigeria and two other African countries, While M Pesa has its presence and footprints in various African and Asia countries, some of which are; Mozambique, Tanzania, and Kenya.

According to our research, Opay has only 18 million registered users, while M Pesa has about 52.4 million registered users, due to its large presence globally.

In 2020, Opay’s overall transaction was processed to be about 60 million, valued to be $1 billion. While M Pesa was processed to be over 11 billion transactions, valued at $490 billion.

Unlike Opay in Nigeria, with many competitors such as Palmpay, Moniepoint, Kuda, and the rest, M Pesa is dominant where it operates without competitors, which leads to it accumulating 90% shares in the Kenya market.

Both apps are unique in such a way that it offers more than just digital banking services, M pesa can be used for international money transfer, while Opay offers food delivery and ride-hailing services.  


Mobile banking

In terms of mobile banking, both M Pesa and Opay have a success rating of 100%, these features let its users send and receive payment, from other banks or mobile banking apps, or even with USSD transfer, which requires no internet connection.

Bill Payment

Both financial platforms are powered by the ability to make bill Payments, such as electricity, water, betting, cable tv, and the rest. With a fast transfer and response speed.


M pesa and Opay offer several kinds of saving features for their users, with the aid of this, users would be able to keep/save their money within the respective app for a later time. 


M pesa and Opay also offer lending services, their users can borrow money through the app and pay back at a stipulated time, However, Opay has its lending app on its own, called “Okash”, this app can be found on Google Play store for Android Users.

International Money Transfer

M pesa has an inbuilt feature that allows its users to make international payments, this means one can send and receive money from several-selected countries in the world, while Opay doesn’t have international payment features.

Transaction Fees

Opay transaction fees are free, while M Pesa charges depending on the amount of money sent to the recipient network.


The two apps have a security pass upon login when a user would either use a pin or password to authenticate, they both emulate the use of encryption, to safeguard their data and transactions from unauthorized access.

In terms of fraud prevention, both apps have worked so hard, to ensure that there isn’t any form of security leaks, their fraud detection teams are working round the clock, monitoring all transactions, alongside keeping an eye out for suspicious activities.

Customer Support

M pesa and Opay has great customer support teams, in terms of issues concerning transactions, they answer swiftly to queries and complaint, alongside providing a solution within a given timeframe.


The digital banking apps share near similarities, with just a slight difference, below are the striking similarities of both apps (M pesa and Opay).

They are both based on a mobile application, making it easier for people to make transactions, at their convenience, without the need of going to the bank or ATM.

In terms of bill payments, both digital banking applications, allow their users to make bills payments such as bettings, Cable Tv, electricity, e.t.c

M Pesa and Opay have the capability of both sending and receiving money.


M Pesa

  • It has an established network of agents and partners, making it more flexible and simple for the user to utilize
  • It has been accepted by a wider range of merchants, making it more accessible to people.
  • It favors users who make large transactions, with its higher transaction limits.


  • Opay has a very low transaction fee.
  • It offers Cashback rewards and bonuses to its users.
  • Aside from banking services, it offers a wide range o services such as; ride-hailing and food delivery.
  • It has a very friendly interface, which makes it easy to use, for conducting transactions.


M Pesa

  • Unlike Opay, M Pesa charges high transaction fees. This is very bad for people who transact more with the app daily.
  •  The primary function of M Pesa is to send and receive money, it doesn’t have many other features like Opay.


  • Unlike M Pesa, Opay is only limited to Nigeria and a few selected countries in Africa.
  • Opay might not be accepted by many business owners and merchants due to the presence of other competitors in the market.

M Pesa vs Opay: which is better

On determining which is the best between M Pesa and Opay, after closely examining all we’ve been saying; The two apps offer almost the same services, they only differ in terms of transaction fees, types of services, agents, and partners. Both apps are good, but I haven’t seen any downsides on either of the apps, according to my evaluation, now it is left for the users to make their choice on which one meets their respective needs.


What is Opay?

Opay is a mobile payment platform that originated in Nigeria. It offers various financial services such as money transfers, bill payments, airtime purchases, and more. Opay aims to provide convenient and accessible financial services to users through its mobile app.

What is M-Pesa?

M-Pesa is a mobile payment service that was first introduced in Kenya. It enables users to deposit, withdraw, and transfer money using their mobile phones. M-Pesa has expanded beyond Kenya and is now available in several countries, offering a range of financial services to its users.

How do Opay and M-Pesa compare in terms of the user base?

Opay has gained significant traction in Nigeria and has expanded its operations to other countries in Africa. It has managed to attract a considerable user base due to its extensive range of services. On the other hand, M-Pesa has a larger user base, primarily due to its early entry into the market and successful expansion across several African nations.

Which platform offers a broader range of services?

Opay provides a comprehensive suite of services that includes money transfers, bill payments, airtime purchases, and even ride-hailing services. M-Pesa, although primarily focused on money transfers and mobile banking, has also introduced additional services like loans and insurance. However, Opay’s broader range of services gives it an edge in terms of convenience and utility.

Which platform offers better security and reliability?

Both Opay and M-Pesa have implemented robust security measures to protect user transactions. They use encryption and other advanced technologies to ensure the safety of financial data. However, M-Pesa has been operating for a longer period and has established a strong reputation for security and reliability, which gives it a slight advantage in this aspect.


Opay and M-Pesa are both prominent players in the mobile payment industry in Africa, offering users convenient and accessible financial services. Opay has gained significant popularity, especially in Nigeria, due to its wide range of services, including money transfers, bill payments, and ride-hailing. However, M-Pesa has a larger user base across multiple African countries, thanks to its early entry into the market and successful expansion efforts.

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