Opay and Moniepoint, Which One is Better?

Comparison between Opay and Moniepoint

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Are you looking for a digital payment platform that allows you to make transactions such as sending money, withdrawal, bills payment, and many other financial services at lower cost and more convenience? Are you considering both Opay and Moniepoint as the one that is better and more secure? Look no further because this article is written to compare the two digital E-wallet payment services to choose the one that best suits your needs.  

Opay and Moniepoint, which is better

Opay and Moniepoint are popular E-wallet service providers in Nigeria and Africa. 

Opay is an all-in-one payment solutions app. It also offers other services such as food delivery, ride hiring, airtime top-up, and many other benefits.  The opay service fee is meager, so it’s suitable for low-income earners.  The app is available for both Android-powered phones and iOS systems. You can pay your bills, book a ride, order food, purchase airtime and data, send funds across to your family and friends, as well as make merchant payments either online or offline. With Opay, you can pay with a bank account or using QR code scanning technology.

Moniepoint, on the other hand, is also an online payment service that allows users to perform financial transactions with their smartphones. Opay and Moniepoint offer almost similar services. However, Moniepoint’s service is lower compared to that of Opay.  Moniepoint also supports cryptocurrency trading.  With the Moniepoint app, users can save money in Multiple currencies simultaneously. Moniepoint is owned by Team Apt Limited, a Fintech company based in Lagos, Nigeria. 

Even if you are looking for a digital payment platform that charges you lower fees or wants to trade cryptocurrency, both Opay and Moniepoint are on the same level. Now the question is, “Which one should you choose?”.  To choose appropriately, it’s very important to read this article as it will give you a clue of choosing right.

Table Comparing Opay and Moniepoint 


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Total Downloads (Android & iOS) 5M + 5 M+
Cryptocurrency support  Yes Yes
POS machine availability  Yes Yes
Debit card  availabilities  Yes Yes 
More services offered Opay offers more services  Less service offered

Promotion comparison: Opay vs Moniepoint, which is better?

Both Opay and Moniepoint have a promotional program that rewards their loyal customers. The promotional schedule is a careful step initiated for customer retention and attraction.  However, Opay has a broader range of loyalty programs for its users. The program helps users to save money and earn rewards for performing transactions. Nevertheless, Moniepoint also offers promotional programs such as discounts and special offers.

Let’s dive into what each of those platforms has to offer.

Opay Loyalty program 

Opay offers Cashback rewards to their users on every purchase made through their mobile app. When you refer your friends to the Opay platform, you earn a point that can be converted to cash or airtime.  There are also special discounts for any active member of the forum.  Opay also offers exclusive access to limit-time deals and promotions to active members.

Moniepoint Promotional program 

Here are some of the rewards programs that Moniepoint has for their customers.

Moniepoint offers discounts to users on each of the items and services selected.

Moniepoint gives out gifts and bonus points, which can be converted to cash or airtime.

You also earn some points when you refer someone to Moniepoint

You have access to Moniepoint exclusive Vip events when available.

Money Transfer: Opay vs. Moniepoint, which is better?

If you want to transfer money in or out of the platforms, Opay and Moniepoint can both do the job.  Depending on your needs, one may be better than another. Let’s look at the E-wallet payment services one after another.

Opay money transfer and withdrawal 

Before attempting a money transfer on your Opay account, ensure that you have enough funds in there. You can top up your fund using your credit or debit card. Using a debit credit card is easy and fast. However, there is a transaction fee for international payments (2%).

There are two ways one can withdraw funds from Opay; one is via bank transfer. I.e. Transferring your funds to another bank account. This doesn’t take time to be processed.  Another option is withdrawing your funds through an ATM card. This process is faster than using a bank account to withdraw funds. Remember that the offer offers 25 free transactions monthly and charges N10 afterward for every transaction you make.

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Moniepoint money transfer and withdrawal 

Adding funds to your Moniepoint account is more complicated than Opay; here, you are not required to use any payment method, but you are giving moniepoint access to your bank account for payment or transfers. Once your funding is approved, you will be able to access your fund within seconds. 

Withdrawing from Moniepoint is much more convenient now than it used to be. You can withdraw funds from Moniepoint in two ways, by transferring the funds to your bank account or using your Moniepoint ATM card to withdraw funds from any available ATM or POS machine.  An ATM is the fastest way to withdraw, as you get your money within seconds of transaction approval.

How to make payment: OPay vs. Moniepoint, which is better 

It’s straightforward to make payments with either Opay or Moniepoint. Both platforms have their own merits and demerits. So the best thing is to figure out the one that works for you.

Making payments with Opay

Opay provides you with a few options to use for payment. You can use a bank account or, even better, link your debit card with your Opay account. You can also use QR code scanning technology or send money directly from your Opay app.  With the Opay app, you can buy airtime, make payments for bills, hire a ride, and order food.

To purchase airtime on the platform, follow these simple steps.

  • Open your Opay app
  • Click on the Airtime purchase icon
  • Choose your network provider
  • Enter the amount you want to recharge
  • Enter your 4-Digit PIN 
  • Click on send.
  • Your airtime will be successfully credited to your mobile phone number.

Making payments with Moniepoint

Making payments with the Moniepoint app follows the route of Opay. Only Moniepoint has some additional features that we will look at.   With the Moniepoint app, you can transfer funds quickly from one account to another using account numbers or phone numbers. The advantage of using Moniepoint to make payment is that there are no service fees for Nigerians, which is very good if you are looking for a payment service with low service charges.

You can purchase airtime and data and make bill payments with Moniepoint. 

You should note that Opay and Moniepoint offer their users loans at a meager interest rate. The loan repayment plan is between 14 days to 90 days.

Opay vs. moniepoint: which is Better 

Now you have seen some of the services each platform has, which one should you go for – Opay or Moniepoint? One thing is sure; your specific needs will play out in your choice.

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To further help you with your decision, here are some notable differences between the two platforms.

  1. Service fees

When choosing any e- payment platform, the first thing to consider is the associated service fee. Opay takes 2% of the total amount for international transactions, while Moniepoint takes 5% as a service fee for international transactions.

  1. User Interface

The user interface is another factor to consider; this is because the app should be designed in such a way that users can navigate it easily.  Both Opay and Moniepoint offer almost the same type of app interface. However, the Moniepoint app offers more payment features, such as peer-to-peer payments and online invoicing.

  1. Security 

The most crucial aspect of the Fintech platform is the security guarantee that it offers to the user. From our research, we can find out that both Opay and Moniepoint use sophisticated security protocols to protect users’ sensitive information. Moniepoint offers a higher level of security with the new SSL encryption and two-factor authentication.


Do Opay and Moniepoint charge transaction fees?

Yes, both Opay and Moniepoint charge for their service. When performing international transactions, Opay charges 2% of the amount being sent, while Moniepoint charges 5%  of the total amount being sent. 

What type of customer service do Opay and Moniepoint offer?

Both platforms offer 24/7 customer support. You can contact them by email, social media or chat with them directly from the app.

Do Moniepoint and Opay offer different payment features?

Yes, both platforms allow you to store your funds in foreign currencies such as USD or EUR. 

Can I borrow Money from Opay and Moniepoint? 

Yes you can get soft loans from Moniepoint and Opay. However bear in mind that repayment and loan interest differs from each other.

How much do Moniepoint and Opay charge for airtime purchase? 

Moniepoint and Opay don’t charge you for airtime purchase. However you are charged for performing the following service, transfer, withdrawal, bill payment etc.

Now that we have explained everything you need to know about the platform,  it is time for you to decide which of the media is better and which one you are going for.l


In summary, choosing the better payment platform depends on your specific needs. Our needs vary individually, and as such, it is up to you to decide what is most important for your needs.

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