OPay targets one billion users as fintech expands global ambitions 

OPay has set a long-term target of reaching one billion users, supporting 10 million merchants and creating one million jobs, as the fintech company outlines its expansion ambitions amid growing competition in Nigeria’s digital payments sector.  

The company disclosed the targets during its Media Parley held in Lagos, where its executives discussed the technology infrastructure, security systems and financial services strategy supporting its operations. 

The targets highlight the growing ambitions of digital payment companies seeking to expand beyond basic transactions into broader financial services, merchant solutions and financial inclusion initiatives. 

What OPay is saying 

Elizabeth Wang, Chief Commercial Officer of OPay, said the company’s long-term strategy extends beyond operating a payment platform, with a focus on using technology to expand access to financial services and support wider participation in the digital economy. 

• According to Wang, OPay’s growth ambition is to serve one billion users, support 10 million merchants and create one million jobs by making digital financial services more accessible, secure and reliable. 

• “The company’s long-term ambition is to serve one billion users, support ten million merchants and create one million jobs,” Wang said. 

She said the company was established to promote financial inclusion through technology while building a platform that can create economic opportunities for individuals, businesses and communities. 

She added that delivering on that vision has depended on sustained investments in technology, infrastructure and innovation. 

• “People may only see a successful transfer or payment notification, but behind that moment are years of investment in technology, infrastructure and innovation. Our goal is to make digital finance so dependable that customers can move money confidently without ever needing to think about the technology making it possible,” Wang said. 

Wang added that every transaction represents a commitment between customers and the platform, requiring continuous investment in technology, infrastructure and innovation to maintain trust as digital financial services expand. 

More insights 

The expansion target comes as fintech companies across emerging markets continue to compete for users, merchants and transaction volumes by offering digital payments, business tools and other financial services. 

• OPay said its strategy is focused on building a technology-driven financial ecosystem that supports individuals, businesses and merchants.  

• The company has invested in payment infrastructure, transaction processing systems, cybersecurity tools, and merchant solutions as part of efforts to scale its platform. 

Beyond payments, OPay said it is also investing in education and innovation through initiatives including its expanded N1.2 billion 10-year scholarship programme, which includes the National Innovation Challenge. 

However, the company did not provide a timeline for achieving the one billion-user target or disclose the current gap between its existing user base and the long-term goal.  

What you should know 

Nigeria’s digital payments market has expanded significantly in recent years, driven by increased smartphone adoption, agency banking growth and efforts to improve financial inclusion. 

Nairametrics had earlier reported OPay says it has grown its platform to more than 45 million users and now supports over one million merchants and businesses across Nigeria, highlighting the expanding role of digital payments and agency banking services in the country’s financial ecosystem. 

Its green Point-of-Sale (PoS) terminals have gained widespread presence across markets, transport hubs, roadside kiosks and neighbourhood businesses, as millions of Nigerians increasingly rely on digital platforms for transfers, bill payments, withdrawals and other everyday transactions. 

The company’s growth reflects the rising adoption of fintech services among small businesses, traders, artisans and communities where access to traditional banking infrastructure remains limited.