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What are the Differences between OPAY and PAYCOM


Knowing about the differences between OPAY, PAYCOM and PAYCOM NIGERIA LIMITED is important to differentiate how the companies works and how they functions. To begin with OPay, we have reviewed the three (3) private organizations and highlight their comparisons including similarities and differences.

OPay is an online mobile money wallet that allow customers to send and receive money, make payment for goods and services, and pay for bills of all type via its app. In other words, the OPay app can be used to send funds to any bank in Nigeria, recharge and top-up mobile, pay bills, get loans and more.

OPay made its ways in Nigeria’s banking sector after all the sceneries of currency shortage and CBN’s policy on redesigned naira notes. The Chinese-owned fintech app became the main alternative to banks for money transfer and bill payments during these fiat-currency hardship.

Now that you’ve learned about OPAY as payment service bank, let’s dive into the reviews of these companies one after the other. I’ll start my reviews by comparing them, then move to their similarities and differences.

Reviews of OPay, Paycom and Paycom Nigeria Limited.

Here are full details of OPay, PayCom and PayCom Nigeria Limited.

About OPAY

Started in 2010 as PAYCOM and doing business under PayCom Nigeria Limited, a mobile money service company. Then, in 2018, a company called Opera Group, the parent company of Opera Browser, Opera News and Opera Ads acquired PayCom.

Immediately after acquiring PAYCOM, OPAY was launched. OPay was launched in June 2018 in Ikeja, Lagos, Nigeria. The registered business name of the Fintech company is Olay Co. Inc.

Opera Group name OPay after Opera Pay and introduced more opera services including OBus, OFood, Okash, ORide, OWealth, and OList. They are all operating under Olay Co. Inc and making use OPay as their mode of payment.

Moreso, Opera News writers are paid via OPay payment service. Individuals and busineses can also use OPay to pay for bills, recharge airtime, send and receive money, win cashbacks, and more.

Indirectly, OPAY is owned by a Chinese billionaire Yahui Zhou through his web browser company Opera Group. Zhou announced to focus OPay as a digital bank licensed by the Central Bank of Nigeria (CBN). In addition, CBN has positioned OPay as one of Nigeria’s leading financial services companies.

Recently, there is a rumour that OPay will be shut down by CBN, but the Apex bank denied the rumor and clarifies that “the fintech app is been allergy of fraud”. Another recent news also stated that the payment app parent company – Opera Group is planning on selling its stake in the fintech company after increasing it to 9.5% from 6.4% this year.


Paycom offers online payroll services and HR software solutions for both big and small businesses to manage the entire employment life cycle. From HR software to real-world interactions, employees manage every aspect of their paycheck, like PTO, expenses and benefits.

Founded in 1998 by Chad Richison in Oklahoma City, Oklahoma, United States. The software company is certified in business continuity management, information security management, privacy information management and quality management system.

About PayCom Nigeria Limited

PayCom Nigeria Limited is a mobile service bank that is licensed by the Central Bank of Nigeria (CBN). It’s a subsidiary company of Opera Group. The company offer banking services using OPay app.

OPay is doing business with it registered company company name – PayCom Nigeria Limited and they’re both manage by Opera software company – Opera Group. OPay is no more with the Olay.co Inc.

The similarities between OPay, PayCom and PayCom Nigeria Limited.

OPay is an E-payment mobile banking platform that allow users to carryout various payment services. PayCom is an American HR software company that helps busineses to manage their employees. While PayCom Nigeria Limited is the registered business name of OPAY.

Although, it was first known as PAYCOM under PayCom Nigeria Limited, but after Opera Group acquired the company, it’s rebranded it to OPAY. 

PAYCOM, the United States HR software company recently replied to a tweet on Twitter stating that “we have no affiliation with OPay or any other company based out of Nigeria.”

PAYCOM and OPAY are just similar in terms of business name. Meanwhile, OPay business registration name is PayCom Nigeria Limited while PAYCOM is an American company. Both are not affiliated in anyways.

Another similarity between OPAY and PAYCOM that might seems confusing is that PayCom is a HR software company and the parent company of OPAY, Opera Group is also a software company.

In other words, both parent companies are software company.

Differences between OPAY and PAYCOM

OPAY is a digital payment platform doing business as PayCom Nigeria Limited, while PAYCOM is a HR software company based in the United States.

PAYCOM helps busineses to manage their employees inventory, while OPAY focus mainly on enhancing payment inclusion in Nigeria.

PAYCOM was founded in 1998 in Oklahoma, United States. OPAY was rebranded in 2018 in Lagos, Nigeria.

OPay works alongside popular Opera service like OKash, OBus, OTrike, OWealth, OFood and many others. While PayCom offers professional services in business continuity management, information security management, privacy information management and quality management system.

Is OPAY and PAYCOM the same?

OPAY, initially known as PAYCOM. But after it’s acquired by Opera Group, it was rebranded to OPAY, an abbreviation of Opera Pay.

On the other hand, No, OPAY is not the same as PAYCOM. PayCom is an American HR software company that helps busineses to manage their employees inventory.

The company recently denied it affiliation with OPAY or any other payment company out of Nigeria.

A guy tweeted a post regarding OPay transaction issues that happened on it account tagging @PayCom, thinking the company is the same as OPAY. But the American PAYCOM company replied that it has no affiliation with OPay or any other company based out of Nigeria.

Here’s the tweets:

@Paycom I made a transaction with the Opay app. The money was deducted from my balance but the third part clam not to receive the money. I made a report through the app not no resolution yet.

We believe you may have meant to contact @OPay_NG. Paycom is a U.S.-based HR tech company, and we have no affiliation with OPay or any other company based out of Nigeria. We hope you are able to connect with the correct parties for a prompt resolution.

So sorry for the wrong mention @Paycom I will direct the message to the suggested handle.

In summary

OPAY was once PAYCOM and it’s been rebranded to OPAY. PAYCOM is an American HR software company.

What Bank is PayCom in Nigeria.

PayCom Nigeria Limited is a registered business company name for OPAY. Whenever you want to transfer money to OPay Account, you’ll need to choose PAYCOM as the beneficiary bank. PayCom is another name for OPay Bank when you’re trying to send money from your bank app to OPay Account.

So, PayCom is a Bank for OPay in Nigeria.

Is OPAY a Bank or Wallet?

OPAY/PAYCOM is a digital payment service bank that got a mobile payment service bank License from the Central Bank of Nigeria (CBN). The fintech funds is insured by the Nigeria Deposit Insurance Company (NDIC). Yes, OPAY is an E-payment wallet that allows users to send and receive money from any Nigerian Banks.

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