KongaPay has rolled out a bold February campaign designed to disrupt Nigeria’s fee-heavy banking landscape, offering users free interbank transfers throughout the month alongside loyalty rewards on wallet balances.
The month-long initiative, running from February 1 to February 28, 2026, removes transfer charges to all Nigerian commercial banks, eliminating costs linked to electronic levies, SMS alerts and account maintenance fees that customers routinely incur with traditional deposit money banks.
Brandspur Banking News Desk reports that the digital payment platform is also introducing an incentive beyond zero fees. During the promotional window, users earn loyalty rewards on funds held in their wallets, allowing balances to generate value without locking funds or restricting withdrawals, a feature that sets it apart from many savings-focused fintech apps.
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Industry watchers describe the move as a calculated customer acquisition and retention strategy. By encouraging Nigerians to move their daily transaction funds, known as transactional float, into its ecosystem, KongaPay is positioning itself as a practical alternative for everyday payments in a high-inflation economy.
The company said the initiative allows users to reassess their banking habits and see how much they spend monthly on basic transactions, arguing that free, instant transfers and unrestricted access to funds offer a more efficient way to manage money.
As the campaign nears its end, KongaPay is betting that a full month of frictionless digital banking will persuade users to stay, even after February closes, intensifying competition in Nigeria’s fast-evolving fintech space.
