Top 6 Mobile Money Platforms in Nigeria

Mobile money platforms generally make financial transactions easier and we have listed the top mobile money platforms in Nigeria.

Everyone should have equal access to financial services (send and receive money, open bank accounts, and also pay for bills and subscriptions). This access to financial services should not be limited to walking into a bank. Still, they should be able to conduct financial transactions on the go. 

Mobile money services have been the most useful and productive tool in achieving financial inclusion in most countries.

Interestingly, an impressive number of Nigerians have been actively using these mobile money platforms in their day-to-day transactions. Many have also keyed into the business opportunities these platforms provide to improve their quality of life. 

We have created a list of the top mobile money platforms in Nigeria using the popularity of these platforms backed by the reviews on the companies’ websites

Top Mobile Money Platforms in Nigeria

Without further ado, here are the top mobile money platforms in Nigeria used by Nigerians to conduct financial transactions. 

1. Paga

A very popular brand in Nigeria, we can only assume that at one point or another you must have come across Paga. 

Paga is a mobile payment platform that allows people to send and receive money digitally. They have registered agents across the country that accept these payments and assist customers to disburse money to their relatives in unbanked and underbanked areas. 

Since establishment in 2009, Paga has rendered impeccable service and in 2017 was awarded the ‘Top Mobile Money Operator’ by the Nigeria Inter-Bank Settlement Systems. The company’s core value, as stated on its website, is to make financial transactions as convenient as they can be by removing all boundaries between customers. 

Opening a Paga account is quite simple, you can opt for register using the website or, by downloading the mobile app. You can also sign up with a Paga agent or dial *242# on your mobile phone and following the prompts.

In the last decade of its operations, Paga has provided top-notch digital financial services to Nigerians, and the reviews on the company’s website testify to that.

2. ReadyCash

Launched in 2012, ReadyCash is out to build Nigeria’s most significant financial distribution network. They have strategically positioned agents that are equipped with the most efficient tools to allow for easy access to financial services for the teeming population that can’t access financial services.

Like most agent banking platforms, ReadyCash has given many Nigerians opportunities to earn revenue and build a sustainable income. ReadyCash is currently providing services that its customers can access through registered agents. 

With ReadyCash, You can open banks accounts with any of the accredited banks in Nigeria, get quick cash or transfer funds; pay bills, exam fees, and taxes. Low-income families can also access affordable insurance with no hassle using ReadyCash.

Also, their drive for financial inclusion is not limited to a physical location. With a Smartphone and a working internet connection, you can have access to all their services within and outside the country.

There are opportunities to position yourself as a financial service provider if you want to become a paid agent.

3. KongaPay

Have you ever been in a situation where you couldn’t pay for a product online or experienced difficulties paying for an event you want to attend so bad?

KongaPay has made this issue a thing of the past for Nigerians since its launch in 2015. With a quick one-time setup on your mobile phone, you can link your debit accounts for hitch-free transfers. You can also set up recurring payments and subscriptions, or generate QR codes of items you want to sell and share online without any need for CVV or tokens. 

KongaPay, like most of these fast-growing mobile money platforms listed here, employ world-class security standards to prevent fraud, minimize risks as well as reduce chargeback. 

They were one of the first platforms to start conducting BVN verification for transactions in a bid to curb the activities of identity thieves. From the review by Techpoint Africa, this platform effectively fills the shoes of an alternative payment getaway for the bustling Nigerian community.

4. Nairabox

A lot of Nigerians now use this social e-wallet application to purchase airtime, pay for bills, donate to charity. They also use the Nairabox platform to buy movie tickets, order food, or purchase event tickets from the comfort of their homes. 

Nairabox works in partnership with accredited banks like Access Bank, Unity Bank, First Bank, Wema, FCMB, and UBA. They are also in partnership with Jumia, Uber and 9Mobile. These partnerships have helped the platform grow massively. 

Once you download the Nairabox app, you can search for events around you that you may wish to go for. Your search is made easier by the event category option. Once you find your choice event, click on buy tickets to pay from your Nairabox wallet. 

You can link your bank accounts to your digital wallet or transfer money to other wallets quickly. Many Nigerians consider this a more secure payment alternative.

5. Riby

Riby Finance believes that everyone deserves a chance at financial freedom and Nigerians are daily buying into that in their numbers. Associations and cooperatives are massively using the building blocks and tools they provide to create wealth for their members. Clients can also make payment through their channel at any time and from anywhere.

The services this platform provides are eye-catching. You can automate your saving process, pool group of funds using the Riby platform. You also enjoy better access to high-interest investments returns, and much more.

Nigerians can access the Riby financial services through web app, mobile app, USSD, and agent network channels. Their website is user-friendly and easy to navigate; hence anyone with a working internet connection and a Smartphone can access these services without stress.

6. Bankly

Bankly comes last but not least on our list of the top mobile money platforms in Nigeria.

With the 360-degree vital features of their financial service app, is inscribing her name on the heart of many Nigerians. Everyone, especially the underserved, can conveniently make transfers, create a savings account, withdraw funds, buy airtime and pay other bills.

They are tirelessly raising a legion of micro-entrepreneurs across the country. These micro-entrepreneurs bring these financial services to their unbanked community while earning attractive revenue for themselves. 

All Bankly does is to digitalize customer savings into a mobile wallet that is secure, convenient and decentralized. That way, customers can protect themselves from fraud and have access to their funds on the go.


 Several hands are on deck to get the financial inclusion agenda to the millions of unbanked Nigerians. 

Beyond that, many of these platforms are evolving daily to provide solutions to business needs of Nigerians through their services.

Therefore, it will be unwise to subject oneself to the rigours of the traditional banking halls in this era of financial revolution when these platforms can give you all you need and more at any day anytime.

Read our piece on the top mobile point-of-sale solutions in Nigeria.

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