Managing cash flow is the lifeblood of any small business in Nigeria. From chasing invoices to accepting payments from customers across different channels, the process can be chaotic and time-consuming. Thankfully, Nigeria’s booming fintech scene has produced a wealth of powerful apps designed specifically to solve these problems.
These tools do more than just move money; they act as your financial command center, helping you get paid faster, track your income, and present a professional image to your clients.
But with so many options, which one is right for you? We’ve analyzed the market and compiled the definitive list of the top 10 fintech apps every Nigerian SME should consider in 2025.
At a Glance: Comparison of Top Fintech Apps for Nigerian SMEs
The Detailed Breakdown: 10 Best Fintech Apps for Your Business
1. Paystack
Paystack (now owned by Stripe) is the gold standard for online payment processing in Nigeria. It’s incredibly reliable, easy to set up, and trusted by thousands of businesses, from solo entrepreneurs to large corporations.
- Best for: E-commerce websites, online course creators, and any business that needs to accept payments online seamlessly.
- Key Features: Payment links, detailed dashboard analytics, recurring billing, and powerful APIs for developers.
- Pricing: 1.5% + ₦100 for local transactions; 3.9% + ₦100 for international.
- Why it’s great for Nigerian SMEs: It allows you to accept card, bank transfer, USSD, and mobile money payments, giving your customers maximum flexibility. It’s the definition of “it just works.”
2. Flutterwave
Flutterwave is Paystack’s main competitor and a powerhouse in its own right. Its biggest advantage is its pan-African and global reach, making it the top choice for businesses with international customers.
- Best for: Businesses that sell internationally, freelancers with foreign clients, and those needing a wide range of payment options.
- Key Features: “Send by Flutterwave” for global transfers, invoicing, virtual card creation, and an easy-to-create online storefront.
- Pricing: 1.4% for local transactions; 3.8% for international.
- Why it’s great for Nigerian SMEs: If you ever plan to sell outside Nigeria or get paid in USD, EUR, or GBP, Flutterwave is your best bet.
3. Moniepoint
Moniepoint has rapidly become a favourite among Nigerian business owners. It provides a full-fledged business bank account combined with an extremely reliable POS terminal and powerful software.
- Best for: Retail stores, restaurants, supermarkets, and any business needing a dependable all-in-one solution for banking and in-person payments.
- Key Features: Business bank account, highly reliable POS terminals, expense cards for staff, and payroll management.
- Pricing: Competitive POS transaction fees and a ₦25 fee on interbank transfers.
- Why it’s great for Nigerian SMEs: It solves the biggest POS pain point: reliability. Their terminals are known for having excellent network connectivity, reducing failed transactions.
4. OPay Business
OPay is a giant in the mobile money and agent banking space. Their business app leverages this extensive network to offer robust payment solutions, especially for high-volume merchants.
- Best for: Businesses with high foot traffic like fuel stations, large retail outlets, and agent banking operators.
- Key Features: Business account, POS terminals, QR code payments, and detailed sales analytics.
- Pricing: Very competitive transaction fees, especially for high volumes.
- Why it’s great for Nigerian SMEs: OPay’s brand is widely recognized and trusted, making customers comfortable with paying via their platform.
5. Kuda Business
Originally a personal banking app, Kuda has expanded with a strong offering for freelancers and modern small businesses. It’s perfect for those who operate primarily online.
- Best for: Freelancers, digital entrepreneurs, and startups who need a free, powerful business bank account.
- Key Features: Free business account (with 25 free transfers a month), professional invoicing directly from the app, and POS features for registered businesses.
- Pricing: Largely free, with competitive fees for services beyond the free limits.
- Why it’s great for Nigerian SMEs: It removes the barrier of high banking fees, allowing new businesses to manage their finances professionally from day one.
6. Kippa
Kippa started as a simple bookkeeping app to help small merchants track debts and inventory. It has since evolved into a comprehensive financial management tool.
- Best for: Small shop owners, traders, and artisans who need a simple way to manage inventory, invoicing, and bookkeeping on their phone.
- Key Features: Invoicing, inventory management, debt tracking, and a simple POS app.
- Pricing: Freemium model with affordable subscription tiers for advanced features.
- Why it’s great for Nigerian SMEs: It digitizes the traditional record-keeping book (“Jotter”), making it easy for non-tech-savvy owners to manage their finances.
7. Nomba (formerly Kudi)
Nomba, like Moniepoint, focuses on providing all the tools a business needs to accept payments. They are particularly well-regarded for their customer support and reliable POS terminals.
- Best for: Service-based businesses, retailers, and anyone who values strong customer support with their POS.
- Key Features: Business account, POS terminals, invoicing, and tools to manage multiple business locations.
- Pricing: Standard transaction fees for POS and transfers.
- Why it’s great for Nigerian SMEs: Nomba offers a solid, dependable alternative to the bigger players, often with more personalized support.
8. Brass
Brass is business banking built for the tech-savvy. It offers a business account but its true power lies in its deep software integrations and tools for team collaboration.
- Best for: Tech startups, fast-growing companies, and businesses that need to integrate their banking with other software like Slack or accounting tools.
- Key Features: Multi-user access with permissions, cash flow analysis tools, expense management, and API access.
- Pricing: Subscription-based, with different tiers based on features.
- Why it’s great for Nigerian SMEs: It provides the kind of financial visibility and control that helps a small business operate like a much larger one.
9. Prospa
Prospa aims to be the “operating system” for a small business. It combines banking, invoicing, and customer management into a single, cohesive platform.
- Best for: Digital-first businesses and service providers who want an all-in-one platform to manage clients and finances.
- Key Features: Business bank account, invoicing, CRM (Customer Relationship Management), and a simple webstore creator.
- Pricing: Subscription model with a free entry-level plan.
- Why it’s great for Nigerian SMEs: It consolidates multiple business tools into one app, saving money and reducing complexity.
10. Remita
While it may not be as flashy as the others, Remita is a workhorse in the Nigerian payments space, especially for formal B2B transactions and government payments.
- Best for: Established businesses, government contractors, and companies that need to process payroll or pay federal bills (like taxes to FIRS).
- Key Features: E-invoicing, salary and payroll processing, and a platform to pay nearly any biller in Nigeria.
- Pricing: Fixed fees for payouts and a percentage for collections.
- Why it’s great for Nigerian SMEs: If you work with large corporations or the government, you will inevitably encounter Remita. Understanding it is essential for formal business operations.
How to Choose the Right Fintech App for Your Business
Feeling overwhelmed? Ask yourself these three questions:
- Where do I get paid? If it’s mostly online or on your website, prioritize Paystack or Flutterwave. If it’s in-person at a physical store, look at Moniepoint, OPay, or Nomba.
- What’s my biggest financial headache? If it’s just bookkeeping and tracking who owes you, Kippa is a great start. If it’s high banking fees, Kuda Business is the answer.
- How complex is my business? If you’re a freelancer, simple is best. If you have a team and need advanced features, a tool like Brass or Prospa will serve you better as you grow.
The right fintech app can transform your business, saving you time, reducing errors, and helping you get paid faster. Start by identifying your core need, try out one or two from this list (many have free entry tiers), and watch your financial operations become simpler and more efficient.
