Some bank customers said they still prefer the use of Fintech companies like OPay, PalmPay and others for their electronic transactions in spite of fraud allegations against the companies.

Some of the customers who spoke with the News Agency of Nigeria (NAN) in Abuja Tuesday, described the platforms as reliable, fast and cheaper.

Peace Samuel, a tomato seller, said she opened an account with OPay during the cash crunch to facilitate her electronic transactions.

She said the online banking platforms had not failed her since she opened it, “many of my customers still do online transactions and I receive my alerts immediately.

“Although, anytime I give customers my account details for my Deposit Money Bank (DMB) to transfer money to me, I might not receive the alert immediately and sometimes, the money will not come at all.

“I do not know what people are saying about fraud but one thing I know is that I have never experienced such before,’’ Samuel said.

Another customer, Elvis Abdu, said PalmPay was cheaper than other DMBs, adding that their complaints resolution mechanism was also reliable.

“I had issues with PalmPay sometimes and immediately I called them, my money was sent back to my account almost immediately.

“This is unlike most banks where you have to take number to enter, fill form and at the end, the money won’t be returned immediately,’’ he said.

Another customer, Chris Idu, said he opened an account with OPay during the cash crunch, but that he was careful in his dealings with them.

Recently, there were viral videos which showed how some youths were using the companies to defraud their customers.

The Central Bank of Nigeria (CBN) in its reaction had described as fake, the news making the rounds that it suspended accounts of OPay and PalmPay.

The CBN Acting Director of Corporate Communications, Isa AbdulMumin, restated that the viral news “is simply fake’’.

The viral news credited to AbdulMumin, claimed CBN was about to suspend accounts of the Fintech companies because they were being used to perpetrate fraud.