Best eWallets In Nigeria 2023: Complete Reviews
The best eWallets in Nigeria can be lifesavers. Diversifying your savings for safety is always advisable, and using eWallets is ideal.
With eWallets, you can spend money relatively more conveniently since they are readily accessible from your smartphone. Moreover, most do not charge as much as traditional banks for transactions.
But out of the many eWallets available, which one should you go for? You can read on to find out the best eWallet services and apps in Nigeria. First, let’s discuss what an eWallet is.
What is an eWallet?
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An eWallet — electronic wallet or digital wallet — is simply a platform that lets you make transactions from your digital device. Digital device, in this case, can be your laptop or smartphone.
With an eWallet, you can perform transactions like sending and receiving money, purchasing airtime and data, paying bills, and other payments.
Usually, you need to download and install an app on your smartphone to use an eWallet. If you’re using a laptop, however, you will need to access the eWallet via the website.
So, in many ways, eWallets are similar to the banking apps and internet banking platforms you’re already used to. The difference is that you operate everything from the comfort of your digital device. You won’t have to visit any physical location like a bank.
You might ask, then, how do you deposit money into an eWallet? Well, the how is straightforward. You can deposit money into your eWallet using your bank card. Other users of the eWallet service can also send you money.
Moreover, some eWallet services give users account numbers. Hence, anyone can transfer money to the account from any bank. So now you have an idea of what an eWallet is, let’s move to the main topic: the best eWallets in Nigeria.
Top 10 Best eWallets In Nigeria
You came here for the best eWallet apps in Nigeria, right? Check them out below:
QuickTeller is arguably the most popular eWallet and payments platform in Nigeria. It’s easy to send and receive money with this app and pay your bills and subscriptions.
Notably, QuickTeller is a recommended eWallet in Nigeria if you do business. If you’ve ever made online payments, you’ll agree that QuickTeller is almost always among the available payment methods.
With QuickTeller, you can also purchase airtime and data. You can purchase airtime and data for any Nigeria network and, interestingly, for international networks as well.
Key features of QuickTeller eWallet
- The app has a simple and easy-to-use interface.
- The app is available for Android and iOS smartphones. You can also access it via the web on your computer.
- It supports local and international bill payments.
- It doesn’t charge any fee when you top up your eWallet.
- It doesn’t charge when you transfer from your eWallet to other QuickTeller users.
Paga is another relatively eWallet in Nigeria. It’s one of the best also, and one reason is that using it is seamless.
As a Paga user, you can link your eWallet directly to your bank account. You can as well link your cards. This makes depositing money into your eWallet easy, as ABC.
When it comes to sending money to others, it’s easy too. You can send money to others via their email address or phone number, or bank account.
Furthermore, Paga is a transparent platform. The platform has no hidden charge, and you’ll be told of any charge beforehand. But, notably, the eWallet service doesn’t demand much charges.
Key features of Paga eWallet
- It’s easy to register and start transacting with the eWallet.
- The app supports multiple options for sending money, including email addresses, phone numbers, and bank account numbers.
- Paga supports linking your bank account and cards.
- The app doesn’t charge for sending money to an email address or phone number.
- Payments and transactions are usually instant with Paga.
With OPay, you get a mobile money service and eWallet service all in one. Little wonder, then, that the platform has more than eighteen million users in Nigeria.
To open an OPay eWallet account, you’ll need to provide your phone number or NIN or BVN. Other national means of identification, like an international passport and driving license, can also qualify.
As an OPay user, you get a debit card for free. This is unlike banks that charge a flat N1,000 fee. Also, OPay’s fixed saving plans will help you make the most out of your money in the long run.
Key features of OPay
- It requires national means of identification for account opening.
- The eWallet gives you a free debit card, which you can use as any other.
- It features multiple saving plans that earn you interest.
- The app has a dependable 24/7 customer support service.
- It gives you many bonuses, whether you’re a new or existing customer.
Previously known as “the bank of the free,” Kuda is now “the money app for Africans.” However, many of its features did not change, and it remains one of the best eWallets in Nigeria.
The number one advantage of using Kuda compared to other eWallets, and even banks, is that you can make free transfers. The app lets you carry out up to 25 money transfers every month at zero cost.
That aside, Kuda gives you a free debit card — Visa, to be precise — and you can create a free virtual card. Kuda further features savings plans, which can earn you up to 15% interest yearly.
Key features of Kuda
- It lets you open an account for free, with an
N0.0 balance, in a few minutes.
- The app gives you up to 15% of your money annually with savings plans.
- It lets you create a virtual card or request a physical debit card.
- It gives you up to 25 free transfers every month.
- Kuda doesn’t charge maintenance fees on your debit cards.
5. Chipper Cash
Chipper Cash is one of the most recent eWallet services. With advertising backup from celebrities — Burna Boy, for example — the platform has garnered fame. And it has backed up that fame with awesome performances.
In particular, Chipper Cash is a reliable eWallet service in Nigeria if you need a virtual dollar card. Moreover, it rewards you for using the card with up to 5% cash back on online purchases. Also, Chipper Cash gives you cash back when you purchase airtime and data.
Chipper Cash is available in Nigeria and other countries, such as Ghana, South Africa, Kenya, Uganda, and Rwanda. It is also available in the United States and the United Kingdom.
Key features of Chipper Cash
- It is dependable if you need a virtual dollar card.
- The eWallet gives you cash back whenever you use the virtual card or buy airtime and data.
- It works in Nigeria and other African countries and the United Kingdom and the United States.
- It allows you to transfer money to others at no charge.
- The app rewards users for referring others.
You have probably heard about Flutterwave if you are in Nigeria. Barter is one of Flutterwave’s subsidiaries, and the platform lets you send and receive money from anyone, anywhere.
But, like Chipper Cash mentioned earlier, Barter is popular for its virtual cards. The eWallet is, in fact, unique in that it lets you create virtual cards for different platforms.
For example, you can create a virtual card for Netflix and another for Facebook, Spotify, Apple Music, and Amazon. One of Barter’s most exciting features is that you get free N5 for every $1 you receive.
Key features of Barter
- The eWallet allows you to send and receive money from anywhere.
- Barter is a subsidiary of Flutterwave.
- It allows you to create virtual cards for different platforms.
- It gives you free N5 when you receive $1.
- The eWallet app is lightweight.
Here we have another relatively new eWallet service in Nigeria. Yet, it ranks among the best options, and it’s easy to understand why considering the platform’s features. Much of Bitsika’s popularity, however, is due to push from Nigerian celebrities like Davido.
Bitsika is an eWallet service you can count on if you make many social payments. It is also dependable if you need virtual dollar cards.
But it’s more than an eWallet, as Bitsika functions, in many ways, as a social media platform. For example, you can post status updates, like posts, comments, and more.
Key features of Bitsika
- The eWallet service works in Nigeria and other African countries.
- It works as a social media platform, allowing you to share and like posts.
- It is one of the best for virtual cards.
- The app work for remittance payments.
Number eight on this list of best eWallet in Nigeria is PalmPay. Described as a “digital finance” platform, PalmPay is an eWallet you can access on non-smartphones. Non-smartphones don’t refer to devices that cannot access the internet.
Hence, a simple way to put it is that if your phone can browse the internet, you can use PalmPay. As a matter of fact, the app comes preinstalled with many Tecno and itel button phones.
You can do a lot with PalmPay, and it’s one of the most rewarding eWallet services on this list. You get points after almost every successful transaction.
Key features of PalmPay
- The eWallet is accessible to everyone, even if you don’t have a smartphone.
- PalmPay rewards you after almost all completed transactions.
- It lets you send money in minutes to anyone.
- The eWallet allows you to make ninety free transfers per month.
- It lets you purchase airtime and data and pay your utility bills.
Payoneer is an option if you need an international eWallet service. Of course, the other eWallet services on this list let you make international payments. But the difference with Payoneer is that it is a US-based service – not Nigeria and not African.
If you do a lot of business and get paid most of the time by foreign clients, you may want to consider Payoneer as your eWallet solution. Opening an account is easy, provided you have a valid Nigerian means of identification.
Interestingly, you can withdraw money from your Payoneer account directly into your Nigerian bank account. So, to many Nigerians, it is the best alternative to PayPal, which has long been unavailable in the country.
Key features of Payoneer
- It is a US-based eWallet service.
- It helps you receive and send payments in different currencies and from and to almost any country.
- The platform supports debit cards.
- It lets you withdraw money straight to your local bank account.
The last on this list of best eWallets in Nigeria is PiggyVest. Most of the time, when you hear of PiggyVest online, it has to do with savings. Hence, if you need an eWallet to help you save money, you can consider it.
But PiggyVest is more than just saving money. It’s also a dependable eWallet for investing. So far, more than four million people invest with PiggyVest.
The number – four million – is not surprising considering that the platform gives up to 25% return annually. What’s most interesting is that you don’t need huge investment money. You can begin with as little as
Key features of PiggyVest
- PiggyVest is one of the best eWallets in Nigeria for saving and investing.
- The platform lets you invest for six months or one year.
- It returns up to 25% on annual investment.
- It offers four different, rewarding savings options.
- It gives you 5% to 15% returns for simply saving money.
You can end your search for the best eWallets in Nigeria here. From the above list, you can pick an eWallet service that suits your needs, and rest assured that it is dependable.