Palmpay and Opay vs Kuda – Which is Better? Features, Pros & Cons

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Palmpay, Kuda Bank and Opay, these three companies have revolutionize the fintech space and have a big influence on how financial services are carried out in Nigeria.

Despite the availability of several competing companies, these fintechs have done exceptionally well. And, given that these are the most often used online banking applications, it’s not surprising that customers may be undecided about which to use.

That is why I have brought the kuda vs opay and palmpay analysis here; after conducting research, I was able to come up with something to inform you on their features, services, pros and cons.

Palmpay Overview

Palmpay is a digital payment platform that allows users to make payments and transfer money using their smartphones.

It is a convenient and secure way to conduct financial transactions, and it is widely used in many countries around the world. Palmpay is available on both iOS and Android devices, and it is easy to use and setup.

Palmpay on Google play:

  • Downoads: 5 Million +
  • Reviews: 303,000 +
  • Ratings: 4.5
  • Size: 39MB

Kuda Bank Overview

Kuda Bank is a digital-only bank based in Nigeria. It offers a range of banking services, including savings and current accounts, loans, and credit cards, through a mobile app.

Kuda Bank is licensed and regulated by the Central Bank of Nigeria, and it aims to make banking more accessible and affordable for individuals and businesses in Nigeria.

Kuda on Play store:

  • Downoads: 5 Million +
  • Reviews 180k +
  • Ratings: 4.2
  • Size: 44MB

Opay Overview

Opay is a mobile payments and financial services company based in Nigeria. It offers a range of services, including mobile payments, money transfers, and online shopping, through its mobile app.

Opay also operates a network of physical payment kiosks, where users can make cash deposits and withdrawals.

Opay is part of the Opera Group, a technology company that specializes in mobile browsers and internet services.

Opay on Play srore:

  • Downoads: 10 Million +
  • Reviews: 260,000
  • Ratings: 4.4
  • 25MB

Kuda Pros

Here are some of the advantages of using Kuda Bank

  • With Kuda bank, you can get free virtual naira card
  • On Kuda app, users can control their expenses by creating smart budget
  • As a user, you can see which way your money goes even after months of the transaction
  • Get a whopping 15% as interest for  using their annual saving program
  • Enjoy Zero% transactions fees on all intra and inter bank transfers
  • Conveniently buy airtime and data for your phone
  • Conduct all your transactions online without needing to visit any bank. All that is needed is kuda app, a working internet connection and your account ATM card.
  • On kuda you can create an account in minutes. No stress in signing up
  • Kuda gives you a whole 25 free transfers every month. You also get free debit and credit sms alerts.
  • You can get access to Overdraft if you are regular in useing Kuda for your transactions. This grants you access to fund when you need it.
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OPay Pros

  • With Opay, you can become pos agent and make money
  • Easy money transfer
  • Adding funds to wallet is free
  • Timely discounts on airtime and data
  • Free utility bills payments
  • Cheap withdrawal charges on Opay pos
  • OPay is licencesd by Cbn and insured by NDIC. They are trusted by over 10 million consumers in Nigeria.
  • Open an account quickly and easily using your phone number, NIN, BVN, or other national forms of verification, and take advantage of incredible welcome incentives.
  • You earn annual interest rate of up to 15% on flexible savings with daily interest and unrestricted withdrawals
  • Opay customer service is available 24 hours a day, seven days a week

Palmpay Pros:

  • Very secure banking experience
  • Free 3 transfers daily
  • fast transactions confirmation, transfers takes less than 5 minutes to appear, this is great for people running transfer centered business.
  • Access to POS device
  • You can convert unused airtime to cash on the application
  • Split bills with other palmpay users
  • Cashback and bonuses are available


Opay is great at offering loan to its users. With the Opay’s Okash, you can easily obtain a loan, and while the interest rate is not particularly low, it is still lower than Kuda bank.

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With Kuda mfb, Overdrafts are granted to qualified customers who have used the app for a particular period of time and have saved or transacted a specified amount of money.

Kuda does not specify how much money or time you will spend before being eligible, but they do indicate that you must use the application continually until you are eligible.

The loan service here for palmpay is flexi cash. What I don’t like about this palmpay loan service is that you can’t get a loan without first using the application for some time.


Kuda provides its customers with 25 free transfers per month; after that, you will be charged 10 Naira for each transfer till the end of the month.

Opay, on the other hand, provides limitless free transfers; you do not pay to make transfers via the opay app.

With Palmpay, you have 10 free transfers per month after that you pay 10 naira per transfer to any bank in Nigeria.


Palmpay, Opay and kuda have some similarities that puts them as a mobile banking apps, some of them are:

  • Opay, kuda bank and palmpay can be operated through their respective apps. All you need is install in and use.
  • All of them have savings and investment feature
  • You can use them to make cash deposit and transfer
  • Palmpay and kuda offers free virtual card for naira transactions
  • They all offer enticing interest on savings
  • Both Opay and Palmpay offer loan while kuda offers Overdraft

Palmpay, Opay and Kuda Compared

Here’s a comparison table of Palmpay, Kuda Bank, and Opay to help you understand their features, services, pros, and cons at a glance:

Feature/Service Palmpay Kuda Bank Opay
Google Play Details 5M+ Downloads, 303k+ Reviews, 4.5 Rating, 39MB 5M+ Downloads, 180k+ Reviews, 4.2 Rating, 44MB 10M+ Downloads, 260k Reviews, 4.4 Rating, 25MB
Pros – Secure banking experience – Free virtual Naira card – Become a POS agent and make money
– Free 3 transfers daily – Smart budget control – Easy money transfer
– Fast transaction confirmation – Detailed transaction history – Free wallet funding
– Access to POS device – 15% interest on annual savings program – Timely discounts on airtime and data
– Convert unused airtime to cash – Zero transaction fees – Free utility bill payments
– Split bills with other Palmpay users – Buy airtime and data conveniently – Cheap withdrawal charges on Opay POS
– Cashback and bonuses – Online transactions – Trusted by 10 million consumers
– Loan access through Flexi Cash – Overdraft access – Up to 15% annual interest on savings
Fees – 10 free transfers/month, 10 Naira/transfer – 25 free transfers/month, 10 Naira/transfer – Unlimited free transfers
Loans Flexi Cash, accessible after some app usage Overdraft for eligible, regular users Okash loans with competitive interest rates
Similarities – Operated through mobile apps – Operated through mobile apps – Operated through mobile apps
– Savings and investment features – Savings and investment features – Savings and investment features
– Cash deposit and transfer – Cash deposit and transfer – Cash deposit and transfer

Final word

Kuda, palmpay, and opay are all excellent apps that can be beneficial to you based on your individual needs.

If you want an app that works like a traditional banking system, where you can save money, pay bills, transfer money, and get credit, kuda is the app for you.

If you need more, you’ll be better off with opay or palmpay, where you’ll get access to more exciting features like access to POS devices, bonuses and cashbacks, and fast loan access.

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About the Author: Femi Olawole

Femi Olawole is a seasoned blogger with interest on providing helpful Contents on online loan apps, Tech and Business.

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