Kuda vs Opay

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Online banking in Nigeria is currently on an uptrend, while this is not a completely new thing, many nigerians are yet to experience this digital finance reformation.

Kuda micro finance bank and opay technologies are two organizations that have revolutionize the fin-tech space and have a big influence on how financial services are carried out in the country, despite a plethora of other competing organizations, they have really held their ground well.

Being one of the two most used online banking applications, it’s no surprise that users may be divided on which to use.

That’s exactly why I brought the kuda vs opay analysis post here, after making my research below is what I’ve been able to come out with.

Below I’m going to give kuda vs opay similarities as well as the pros and cons of each of them.

What I’ll cover here include:

kuda vs opay similarities

Opay and kuda has some similarities that recognize them as a financial application, the similarities are:

Both opay and kuda can be accessed through mobile app as well as web using an internet browser
You can use both kuda and opay to save money
You can send and receive money on both apps via cash deposit, online transfer or ussd transfer
both offers free virtual as well as physical debit cards that can be used for national transactions
Both offers annual percentage rate of UpTo 10% on fixed deposit of funds
Both apps gives access to credit, with varying interest rates

kuda pros and cons

Pros:

Very secure banking experience
application is very stable, you hardly encounter bugs or hiccups
Very clear and straight to point user interface, beneficial to people just starting out
Free 25 transfers monthly
fast transactions confirmation, transfers takes less than 2 minutes to appear, this is great for people running transfer centered business.
Access to POS device (coming soon)

Cons:

lacks some features like bonuses and cashbacks
Referral system doesn’t work all the time
No SMS alert, for people that would love that though
loan takes forever to be eligible if you don’t receive large sums to your account

Opay pros and cons:

Pros:

cashbacks and bonuses are available
Wide range of products are being integrated
Fast access to loan via okash or Easemoni
Access to POS devices

Cons:

lacks stability
Sometimes has serious network issues
User interface can be overwhelming and confusing at first
Some functions can be very confusing or may refuse to work as stated

Conclusion

to conclude, both opay and kuda are really good apps and either of them can be good for you, depending on your specific needs. If what you want is an app that works like a traditional banking system, that you can save money, pay bills, make transfer and get access to credit then kuda is for you, but if you need more than that you’ll be better off with opay as you’ll get Access to more exciting features such as access to POS devices, bonuses and cashbacks, fast loan access albeit higher interest rates. I hope with the similarities, pros and cons of both apps up there you’ll be able to make out which one is best fit for you.

Thanks for reading here on DXMetrics.

Kuda vs Opay

kuda vs opay similarities

kuda pros and cons

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Cons:

Opay pros and cons:

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