These 7 Fintech Apps Could Lose Nigerian Users Thanks to Naira Cards Now Working for USD

For many Nigerians, fintech apps have bridged the gap between naira struggles and global transactions. From paying for Spotify and Netflix to receiving freelance salaries in USD, apps like Chipper, Grey, and Payday have stepped in where banks fell short.However, recent developments from the Central Bank of Nigeria (CBN) suggest that this bridge may no longer be necessary by December. If the #NairaATMsforUSDTransaction initiative, allowing USD transactions directly from ATMs, becomes a reality, several fintech platforms could lose relevance.Here’s what’s going on, the 11 fintech apps at risk, and why you should start preparing for the shift. READ ALSO: Here’s How to Resolve Failed Bank & ATM Transactions Quickly What is #NairaATMsforUSDTransaction? In early 2025, reports began surfacing that the CBN was working on a policy to enable USD withdrawals and transactions directly from naira ATMs. This move aims to ease the FX pressure, improve financial access, and give Nigerians an alternative to the black market and digital dollar cards.If this policy is implemented before the end of the year, users may be able to withdraw dollars directly from bank ATMs or make international payments using multi-currency debit cards issued by local banks.This would dramatically reduce reliance on fintech apps offering virtual dollar cards, international payment solutions, and cross-border transfers. Why Nigerians Started Using Fintech Apps for USD Transactions Nigerian banks have imposed harsh restrictions on dollar usage, especially since 2021. From $20 monthly international card limits to frequent FX outages, many Nigerians have turned to fintech for stability.Fintech apps in Nigeria began offering:Virtual dollar cards that work for Netflix, Canva, Apple Music, and other global services.Foreign account details (USD, GBP, EUR) for freelancers and remote workers.Better exchange rates compared to traditional banks.Instant cross-border transfers without lengthy bank queues or paperwork. For millions, these apps became a reliable way to send, save, and spend dollars. 1. Chipper Cash Chipper Cash offers virtual USD cards that Nigerians use to pay for Netflix, Apple Music, and Spotify. It became popular for cross-border transfers and seamless USD spending. Many users rely on it to bypass traditional banks’ FX limitations. But if banks start issuing USD cards and ATMs dispense dollars, Chipper’s core feature may lose its shine. 2. Geegpay Freelancers in Nigeria widely use Geegpay’s virtual dollar card to receive foreign payments. Although it supports multi-currency wallets, USD cards remain its major draw.. With platforms like Upwork and Fiverr, Geegpay enables easy withdrawal and spending in USD. However, bank-issued virtual USD cards could weaken its position in the market. 3. Cardtonic Cardtonic provides fast-access virtual USD cards, which are mainly used for global shopping and subscriptions. Nigerians rely on them to bypass spending limits on traditional naira cards. Its minimal verification steps and swift delivery made it attractive. But with USD now available via naira ATMs and banks, its unique value may drop. As dollar access gets easier, Cardtonic’s main feature could feel redundant. 4. Fundall Fundall’s virtual USD cards allow international spending up to $10,000 monthly. It’s popular with SMEs, business owners, and digital entrepreneurs in Nigeria. It also provides additional financial tools, but USD access is its main appeal. Once banks begin offering high-limit USD cards, Fundall may lose exclusivity. 5. Wallet Africa Wallet Africa helped Nigerians solve payment issues with virtual USD cards for ads and subscriptions. It became a top choice for paying Facebook ads, Shopify fees, and web hosting bills. For users needing reliable dollar cards, it filled a significant gap. However, direct dollar access through traditional banks may reduce its relevance. 6. GoMoney GoMoney offers reliable virtual USD cards for international payments. It gained popularity for enabling smooth global transactions and digital subscriptions. Shoppers on Amazon and platforms like Adobe relied on its virtual dollar card. However, users may shift once banks issue USD cards directly from naira accounts. 7. Bitmama Bitmama’s virtual USD card is backed by stablecoins, allowing crypto users to spend in dollars. Though a crypto-first app, its dollar card feature attracts global spenders in Nigeria. Users enjoy flexibility, especially when converting crypto to USD for daily use. Still, crypto-backed USD cards may feel unnecessary if banks offer direct USD solutions. Its dollar service may shrink while its crypto tools keep a niche audience. But These Fintechs Still Offer More Than Dollar Access Even if their USD features become less valuable, most of these fintech apps still provide meaningful services beyond dollar transactions. Chipper Cash Available on: Play Store & App StoreFree local and cross-border transfers across AfricaAirtime and bill paymentsCrypto wallet support (in select countries) Geegpay Available on: Play Store & App StoreSupports freelancers with invoicing and tax insightsOffers savings tools with dollar-earning options Fundall Available on: Play Store & App StoreSmart budgeting and financial planningBusiness accounts and team walletsAccess to investment and insurance options