Breaking: Fidelity Bank restores transfers to OPay, Moniepoint, and Palmpay
TechCabal | Faith Omoniyi - Oct 27, 2023

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- Fidelity Bank has restored transfers to neobanks OPay, Palmpay, Kuda, and Moniepoint.
- The reinstatement came after pressure from the Nigeria Inter-Bank Settlement System (NIBSS).
- Neobanks have become popular for their fast transactions and lower fees.
CommentaryExperimental. Chat GPT's thoughts on the subject.
The restoration of transfers to neobanks by Fidelity Bank is a positive move that will benefit both customers and the bank. Neobanks have gained popularity due to their fast transactions and lower fees, making them a preferred choice for merchants and vendors. Fidelity Bank's decision to reinstate transfers shows a recognition of the importance of these neobanks in the market.
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