PalmPay is a FinTech and digital banking platform that gives you the opportunity to transfer and receive money from the comfort of your home. Like most FinTech platforms, you do not need to visit a physical office to open an account or resolve issues. Here, you’d get to see the best PalmPay alternatives to use. I mean, other apps like PalmPay you may try.
FinTech platforms like PalmPay run all operations fully online, but they sure do have branch offices in a few locations. This may prove useful in solving problems that require physical attention. You may not feel protected when saving your money in those online banks, but rest assured that they’re all verified and licensed by CBN, just like your normal banks.
This article on Naijaknowhow focuses on the best PalmPay alternatives for Android and iOS. Yes, there are other digital banking platforms that offer similar (if not better) features and services, like PalmPay. These FinTech apps let you send and receive money with ease, take loans when you’re in need of quick cash, and also give you the ability to make bill payments fast and easily.
List of the Best PalmPay Alternatives for Android and iOS
If you’re an avid user of the PalmPay app and you’re not satisfied with its services, then you should try out other FinTech platforms that are similar or better than it. Below are our best picks of apps like PalmPay you may use.
1. Opay
Opay is currently one of the oldest and most credible fintech platforms in Nigeria. This app focuses mainly on saving, investment, and loans. Yes, it allows you to send and receive money with ease using a custom account number. The Opay app has a nice user interface where all important services are placed directly at the top for you to access.
Once you sign up with your details on this app, you’ll be able to make limited transactions. If you wish for your transaction limits to be upgraded, then you must verify your identity using a national ID card, utility bills, national passport, or driver’s license. The OPay app is regarded as one of the best PalmPay alternatives to use for basic online banking services.
If you want to become an Opay merchant, you should read our article on how you can apply for OPay POS Machine in Nigeria. Also, we’ve previously covered an article on the best OPay alternatives, so don’t hesitate to check that out.
Pros:
- Been around a while, known for reliability.
- Simple features for growing your money.
- Get cash loans when you need it.
- Send & receive money with ease.
- Simple design, easy to find what you need.
- Great choice for basic online banking.
Cons:
- Free accounts have limited transaction amounts,
- Requires verification for higher transaction limits
- Customer service is terribly slow and unreliable.
- Charges fees for loan repayments and transactions.
[appbox googleplay team.opay.pay]
[appbox appstore id1463776084]
2. Kuda
I’d say that the Kuda Bank app is currently the best fintech and digital banking platform at the moment. Talking about its design and interface, it is one of the best so far. Navigating through the app and accessing its features feels like a breeze. Kuda Bank lets you take overdraft loans when you need quick cash to solve your needs.
The Kuda Bank app offers its customers free transactions between other Kuda accounts. But there’s some percent charge if you’re transacting with accounts affiliated with other banks. KudaBank requires full identity verification should you be looking to upgrade your transaction limits. This process is not tedious. They only require face verification and your national ID card (NIN).
Pros:
- App is smooth and easy to navigate.
- Free transactions between Kuda accounts
- Quick overdraft loans for urgent needs
- Simple identity verification for limit upgrades
Cons:
- Can’t exchange other currencies like USD or EUR.
- Charges fees for transfers to other banks.
- Overdraft loans not enough for larger financial needs.
- Slow response from Kuda customer support.
- App lacks investment options or insurance.
[appbox googleplay com.kudabank.app]
[appbox appstore id1467373738]
3. Chipper Cash
Chipper Cash is another digital banking platform worth trying out. Though this app offers a small transaction limit compared to others, even after full identity verification and upgrade, it is still one of the best PalmPay alternatives to use. The Chipper Cash app offers great services when it comes to sending and receiving money, making bill payments, and buying airtime.
If you fancy the idea of investing and you’re good at stock market and crypto trading, then you should look into this platform. The Chipper Cash app lets you create two virtual debit cards of both NGN and USD currency. You will be able to fund and use these debit cards to make certain payments, though they mostly work for subscribing to services like Netflix, Spotify, and Apple Music.
Pros:
- Send and receive money effortlessly
- Pay bills and send money, all within the app.
- Offers seamless and instant Transactions
- Enjoy transparent fees on every transaction.
- Prioritizes your safety with bank-level encryption
Cons:
- Reaching customer service can be challenging,
- Chipper Cash charges fees for international transactions
- As with any online platform, fraud risks exist.
[appbox googleplay com.chippercash]
[appbox appstore id1353631552]
4. Barter by Flutterwave
Barter is an online digital banking service offered by Flutterwave. This platform gives its users an intriguing experience for better banking. You will find it easy to make transactions without any problems if you are using this app. Barter also lets you make bill payments directly from the app. It has one of the best straightforward user interfaces for mobile phones.
The Barter app lets you create a virtual dollar account that proves useful when making payments to online shipping sites outside of Nigeria. However, this service is currently shut down as a result of the directive from CBN. Barter is one of the best PalmPay alternatives you may want to try out. Yes, it offers limited services but performs well in specialized areas.
Pros:
- Seamless transactions with a great user experience.
- Easy bill payments directly within the app.
- User-friendly interface for mobile phones.
- Virtual dollar account for international payments.
Cons:
- Doesn’t offer a full range of banking features.
- Virtual dollar card currently unavailable due to regulations.
[appbox googleplay com.flutterwave.flybarter]
[appbox appstore id1378344716]
5. PiggyVest
PiggyVest, a name synonymous with financial security for many Nigerians, is more than just an app; it’s a gateway to achieving your financial goals. Launched in 2016, it has evolved from a simple savings platform to a comprehensive savings and investment app, trusted by over 4 million users.
PiggyVest is committed to securing your financial information. They utilize bank-level security measures like data encryption and two-factor authentication to protect your funds. They are also licensed by the Securities and Exchange Commission (SEC) of Nigeria, adding a layer of trust and regulatory oversight. Overall, PiggyVest is a versatile app that caters to different financial needs and goals.
Pros:
- Helps you save for anything with flexible options.
- Offers competitive interest rates on your money.
- Top-notch security keeps your money safe
- Has automated savings plans for users.
Cons:
- Withdrawing early can cost you 2.5% fees.
- Switching saving plans can be a bit of a hassle.
- Dollar account can only convert currency.
[appbox googleplay com.piggybankng.piggy]
[appbox appstore id1263117994]
6. Moniepoint
Moniepoint is a Nigerian fintech company founded in 2015 with a mission to simplify and empower financial access for businesses in emerging markets. They go beyond just a single app, offering a suite of payments, banking, and operations solutions all within one platform. This app is among the best PalmPay alternatives to use right now.
With its focus on innovation and expansion, Moniepoint is poised to play an even bigger role in shaping the future of finance in Nigeria and beyond. They are constantly developing new products and services to cater to the evolving needs of businesses, and their commitment to financial inclusion continues to empower people and drive economic progress.
Pros:
- Payments, banking, and operations all in one app.
- Tailored solutions for emerging market needs.
- Constantly developing new features and services.
- Committed to financial inclusion and economic progress.
Cons:
- Branch and ATM access might be inconvenient.
- Some users report slow response times.
- Lack features compared to other similar apps.
- Nominal fee per transfer on the app.
[appbox googleplay com.moniepoint.business]
[appbox appstore id6452756675]
7. FairMoney
FairMoney isn’t just an app; it’s a digital bank and instant loan platform rolled into one, designed to empower Nigerians with convenient and accessible financial solutions. Whether you need a quick loan for an unexpected expense, a reliable bank account for everyday needs, or tools to boost your financial health, FairMoney has you covered.
Its focus on transparency, mobile-first approach, and value-added features make it a competitive player in the financial technology landscape. However, users must be mindful of potential drawbacks like interest rates and responsible borrowing practices to maximize the benefits of this platform.
Pros:
- Cash in minutes for emergencies or small needs.
- Offers banking and instant loans in one app.
- Manage finances on the go, no branch visits.
- Clear fees and terms, no hidden nasties.
- Has features to budget, save, and build credit.
Cons:
- Interest rates is high for longer loans
- Easy access can tempt overborrowing.
- Has limited features compared to PalmPay.
[appbox googleplay ng.com.fairmoney.fairmoney]
[appbox appstore id6456485223]
Conclusion
This concludes our list of the best PalmPay alternatives that are accessible both on Android and iOS devices. These FinTech and digital banking platforms remain the best when it comes to offering great and satisfying services to their users and customers. You may want to check out our article that discusses how to make money with PalmPay, it lets you in on credible and effective methods you can earn using the app. Also, read on how to open a PalmPay account on your smartphone if you find it difficult to open an account. Do you have any others in mind? Do let us know via comments. Cheers!
