Opay vs Palmpay vs Moniepoint (2025 Comparison) – Fees, POS, Loans And Features

The Nigerian fintech space is booming — and three names keep coming up in every conversation: Opay, Palmpay, and Moniepoint.

From sending money to family, paying bills, running a POS business, or even saving for the future, these platforms have become part of daily life. But if you’re asking, “Which one is better — Opay, Palmpay, or Moniepoint?” you’re not alone.

Each of them has unique strengths and weaknesses. In this guide, we’ll break down their fees, POS services, loans, savings, customer support, and overall reliability so you can decide which one suits your needs best.

Opay vs Palmpay vs Moniepoint

Summary of Each Platform

Opay

Launched in 2018, Opay has grown into one of Nigeria’s most popular fintech apps. Beyond transfers, it offers:

• Savings with interest (Owealth, OPay Save)

• Loans & overdraft services

• Bill payments, airtime, data

• POS for agents

Its biggest strength? Diverse financial products for both individuals and businesses.

Palmpay

Palmpay is widely loved for its cashback and discounts. Every airtime purchase, data recharge, or bill payment often comes with instant bonuses.
Key features:

• Free transfers within Palmpay

• Loans (Flexi credit, BNPL)

• PalmSave for extra interest

• Student-friendly with low fees

If you’re someone who loves bonuses, promos, and rewards, Palmpay is a strong choice.

Moniepoint

Unlike the other two, Moniepoint focuses heavily on business and POS agents. In fact, it’s one of the largest POS networks in Nigeria.
Key features:

• Reliable POS network

• Business banking solutions

• Stable transaction system

• Strong support for agents

If you’re running a POS business or small shop, Moniepoint is often the top pick.

Charges & Transaction Fees Comparison

One of the first things people check before choosing a fintech app is the charges. Nobody wants an app that eats up money with hidden fees. Here’s how they compare:

Opay

• Transfers: Free to Opay accounts, ₦10–₦20 to other banks.

• POS withdrawals: Around 0.5%–1% depending on the agent.

• Bills & airtime: Sometimes discounted, no extra hidden charges.

Verdict: Opay is affordable, especially for people sending money frequently.

Palmpay

• Transfers: Free to Palmpay users, ₦10–₦20 to other banks.

• POS withdrawals: Lower than some competitors, plus occasional promotions.

• Bills & airtime: Cashback on almost every transaction (sometimes up to 10%).

Verdict: Palmpay is great if you want low fees + extra bonuses.

Moniepoint

• Transfers: ₦20 flat per transaction.

• POS withdrawals: Around 0.5%–1%, but very stable.

• Bills & airtime: Standard charges, no big promos.

Verdict: Moniepoint is not the cheapest, but users love it for reliability.

✅ Winner in charges:

• For personal use: Palmpay (cashback + low fees).

• For POS agents: Moniepoint (stable network outweighs small extra charges).

POS Business: Which One is Better?

If you’re running a POS business, your choice of fintech can make or break your profit. Nigerians know how frustrating it is when a customer is waiting, and your POS says “transaction failed.” Let’s see who does it better.

Opay POS

• Competitive charges for agents.

• POS devices are available, but not as dominant as Moniepoint.

• Network reliability is good, but not always the best during peak hours.

Palmpay POS

• Popular among newer agents.

• Offers cashback and promotions that help attract customers.

• Sometimes less reliable than Moniepoint during high traffic.

Moniepoint POS

• The most widely used POS network in Nigeria.

• High success rate of transactions.

• 24/7 agent support, making it very business-friendly.

• Slightly higher charges, but a stable network = more customer trust.

Verdict: If your main goal is POS business profits, Moniepoint stands out as the most reliable.

Loans, Savings & Extra Services

Apart from transfers and POS, these apps also provide loans and savings options. This is where many Nigerians find real value.

Opay

• Offers Owealth (savings with daily interest).

• Loans and overdraft (based on account activity).

• Flexible repayment for active users.

Palmpay

• PalmSave allows savings with interest.

• Loans available via Flexi credit and Buy Now Pay Later (BNPL).

• Cashback makes it attractive for frequent bill payments.

Moniepoint

• Primarily focused on business banking.

• Savings options exist, but are geared more towards businesses.

• Loans are mainly for agents or business users, not regular individuals.

Verdict:

• For personal savings/loans: Opay and Palmpay lead.

• For business loans/savings: Moniepoint is better.

User Experience & Customer Support

When it comes to fintech apps, ease of use and customer service matter as much as charges.

• Opay: Clean, fast app. Customer support is fairly responsive, but refunds can take time.

• Palmpay: Very user-friendly, especially for students and casual users. Cashback notifications make it engaging. Support is decent.

• Moniepoint: The app is more business-focused, not as flashy as the others. But customer support for agents is very strong.

Security & Trustworthiness

Since all three apps handle your money, security is non-negotiable.

• Opay – Licensed by the CBN (Central Bank of Nigeria) and insured by NDIC. Strong app security, with PIN, fingerprint, and OTP layers. However, some users report occasional fraud cases from agents.

• Palmpay – Also fully CBN licensed and NDIC insured. Uses similar security features (PIN, fingerprint, OTP). Known for quick fraud alerts, but like any platform, users should avoid sharing account details with agents.

• Moniepoint – Operates under Moniepoint MFB (Microfinance Bank) and is CBN-regulated. Very strong reputation among POS agents for reliability. The company actively trains and supports agents against fraud.

Verdict on Security: All three are safe, but Moniepoint is most trusted among business users, while Palmpay has better fraud monitoring for individuals.

Which One Should You Choose?

So, after all the comparisons, here’s the breakdown:

• ✅ Choose Opay if…
  You want an all-rounder app for transfers, savings, loans, and bill payments with fair charges.

• ✅ Choose Palmpay if…
  You love cashback, promos, and discounts — especially useful for students and personal users.

• ✅ Choose Moniepoint if…
  You’re running a POS business or small shop and want the most stable, trusted network in Nigeria.

Bottom line:
There’s no single winner — the best choice depends on whether you’re an individual user (Opay or Palmpay) or a business/POS agent (Moniepoint).

RELATED CONTENT

• Top 10 Savings Apps in Nigeria
• How to Start a POS Business in Nigeria
• Loan for POS Business in Nigeria

FAQs (Opay vs Palmpay vs Moniepoint)

Which is better between Opay and Palmpay?
Both are strong for personal use. Palmpay is better if you like cashback, while Opay is stronger for loans and savings.

Is Moniepoint safer than Opay?
For POS agents and businesses, yes — Moniepoint’s network stability makes it more reliable. But for personal savings, Opay is just as safe.

Who has the lowest POS charges in Nigeria?
Palmpay and Opay sometimes run promotions with lower charges, but Moniepoint is the most stable, even if charges are slightly higher.

Can I get a loan from Palmpay, Opay, or Moniepoint?

• Opay: Yes (loans + overdraft).

• Palmpay: Yes (Flexi credit, BNPL).

• Moniepoint: Mostly business/agent loans.

5. Which is more popular in Nigeria — Opay, Palmpay, or Moniepoint?

• Opay: More popular among everyday users.

• Palmpay: Very popular with students and cashback lovers.

• Moniepoint: Most popular POS network nationwide.