{
  "id": 10573560,
  "title": "Fintech apps reach 88% of Nigerian smartphone users – Report",
  "url": "https://urgent.news/2026/09/29/fintech-apps-reach-88-of-nigerian-smartphone-users-report",
  "topic": "tech",
  "section": "Tech",
  "published": "2026-09-29T01:10:53.000Z",
  "source": {
    "name": "Punch Nigeria",
    "slug": "punch-nigeria",
    "url": "https://punchng.com/fintech-apps-reach-88-of-nigerian-smartphone-users-report/"
  },
  "original_language": "en",
  "account": "A new report has revealed that banking and financial technology applications have reached 88% penetration among smartphone users in Nigeria. Conducted by KPMG Nigeria and Orange Group, the Nigeria Smartphone Study 2025 found that banking and fintech apps were the second-most popular app category, falling behind social media and communication platforms at 98% adoption. Surveying 13,251 respondents across 12 major Nigerian cities, the report noted that fintech platforms have significantly improved financial inclusion by offering convenient alternatives to traditional banking infrastructure. OPay led the category with 69% smartphone penetration, followed by PalmPay at 29% and Moniepoint, which was identified alongside OPay and PalmPay as one of the top three banking and fintech apps on Nigerian smartphones. Traditional banking apps, including Access Bank, UBA, and GTBank, had lower adoption levels at 16%, 11%, 11%, 10%, 9%, and 6% respectively. The surge in financial app usage coincided with rising smartphone ownership, which increased by 11 percentage points to 75% in 2025, from 64% in 2023. Affordable brands like Tecno, Infinix, and Itel dominate the Nigerian smartphone market, while the country's digital payments market grew by about 115% from N587.5tn in 2020 to N1,261.65tn in 2024. Despite the expansion, challenges such as limited 2G network access and cybersecurity concerns persist.",
  "summary": "A new report by KPMG and Orange Group reveals that banking and fintech apps have reached 88% of smartphone users in Nigeria, with OPay leading the market. Read More: https://punchng.com/fintech-apps-reach-88-of-nigerian-smartphone-users-report/",
  "key_points": [
    "88% penetration of fintech apps among Nigerian smartphone users",
    "OPay leads with 69% penetration, followed by PalmPay at 29%",
    "Smartphone ownership in Nigeria increased by 11 percentage points to 75% in 2025"
  ],
  "editors_take": "The widespread adoption of fintech apps in Nigeria signifies a significant shift towards financial inclusion, with digital platforms increasingly becoming a preferred alternative to traditional banking infrastructure.",
  "illustration": null,
  "coverage": {
    "outlets": 2,
    "also_reported_by": [
      {
        "outlet": "Punch",
        "title": "Fintech apps reach 88% of Nigerian smartphone users – Report",
        "url": "https://urgent.news/2026/09/29/fintech-apps-reach-88-of-nigerian-smartphone-users-report-10576440",
        "published": "2026-09-29T01:26:53.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}