OPay has announced that it has exceeded 45 million users and now supports more than one million merchants and businesses across Nigeria, marking a significant milestone in the country’s rapidly expanding digital payments ecosystem.
The fintech company, which launched operations in Nigeria in 2018, said its growth underscores the increasing adoption of digital financial services and agency banking solutions among millions of Nigerians. Over the years, OPay has emerged as a key player in advancing financial inclusion and supporting Nigeria’s transition toward a cashless economy.
Its distinctive green Point-of-Sale (PoS) terminals have become a common sight across markets, transport hubs, neighbourhood shops, and kiosks nationwide, enabling users to carry out transfers, bill payments, cash withdrawals, airtime purchases, and other everyday transactions.
According to figures released by the company, monthly active transacting users increased from 25.13 million in 2024 to 39.32 million by the end of 2025. OPay also reported a sharp rise in gross transaction value, which grew from $166.2 billion in 2024 to $358 billion in 2025, reflecting the growing scale of digital payment activity on its platform.
The company attributed its growth to the increasing demand for accessible and affordable financial services, particularly among underserved populations, small business owners, traders, artisans, and communities with limited access to traditional banking infrastructure.
OPay offers a wide range of services, including money transfers, savings products, debit cards, bill payments, airtime purchases, and merchant payment solutions such as PoS terminals, QR payments, and online payment tools. Its merchant network spans supermarkets, pharmacies, restaurants, transport operators, and small retail businesses across the country.
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Beyond financial services, the company said its expansion has contributed to job creation through its agency banking model, which supports thousands of agents and merchants engaged in cash deposits, withdrawals, customer onboarding, and field operations. The PoS business has also become a source of entrepreneurship and income generation for many young Nigerians.
The fintech firm’s growth accelerated amid rising demand for digital payment alternatives, especially during periods of cash shortages when electronic payment channels became critical for everyday transactions.
OPay has also received industry recognition for its contribution to financial inclusion, including the Financial Inclusion Innovation Award presented by the Central Bank of Nigeria in 2024.
Backed by global investors, including SoftBank, Sequoia China, Redpoint, and IDG Capital, the company said it continues to strengthen its compliance framework, fraud prevention measures, and security infrastructure to support increasing transaction volumes.
As digital adoption continues to expand across Nigeria, OPay’s growing network of users, merchants, and agents highlights the transformative role of fintech in broadening access to financial services and driving greater participation in the formal economy.
