In a strategic move to capture a larger share of Nigeria’s competitive fintech market, KongaPay, the financial services arm of the Konga Group, recently launched a month-long campaign aimed at eliminating the hidden costs of banking.
From February 1st to February 28th, 2026, Techeconomy gathered, KongaPay users will enjoy unlimited free transfers to any commercial bank in Nigeria.
This move directly targets a major pain point for Nigerian consumers: the cumulative burden of electronic transfer levies, SMS charges, and monthly “account maintenance” fees that characterize traditional Tier-1 and Tier-2 banks.
Beyond Zero Fees: Earning on Your ‘Float’
Unlike typical promotional windows that focus solely on transaction costs, KongaPay is introducing a passive income element to its digital wallet. During this period, users will earn loyalty rewards on their wallet balances, effectively turning a transactional account into a high-yield digital asset.
Crucially, the platform has removed traditional barriers to these rewards. Users can access their funds at any time with no withdrawal restrictions, a departure from many savings apps that lock funds for fixed durations to qualify for interest.
“How much did you spend on bank transfer fees last month? With KongaPay, you can send money to any bank for free. No hidden charges, no ‘maintenance fees’, just instant, seamless transfers,” the company stated in a recent dispatch to customers.
The ‘February Savings’ Play
Industry analysts view the 28-day window as a tactical “customer acquisition” drive. By offering a month of zero fees, KongaPay is inviting users to audit their banking habits and see the tangible difference in their disposable income.
Transaction Type |
Traditional DMBs |
KongaPay (Feb 1 – 28) |
| Transfer to Other Banks | N10 – N50 + VAT | FREE |
| Account Maintenance | Monthly Deductions | N0.00 |
| Wallet Balance | Zero Growth | Loyalty Rewards Earned |
| Access to Funds | Standard | Instant & Unrestricted |
Strategic Analysis: Fighting for the ‘Stickiness’
For KongaPay, the goal is stickiness. By encouraging users to move their transactional float, the money used for daily transfers and bills, into the KongaPay ecosystem, the platform increases the likelihood of those users staying beyond the February 28th deadline.
The integration of loyalty rewards acts as the hook. In a high-inflation environment, the ability to earn extra value on a balance that remains fully liquid is a compelling value proposition for the tech-savvy consumer.
“Switch to the smarter way to pay and save. Earn loyalty rewards on your wallet balance, giving you extra value just for keeping your funds in your wallet,” the bank urged.
With the offer set to expire at the end of the month, KongaPay is betting that 28 days of friction-free, rewarding banking will be enough to convince Nigerians to ditch the fee-heavy legacy banks in favour of a leaner, more rewarding digital alternative.
For consumers, the message is clear: February is the month to audit your alerts. If you are still paying to move your own money, you’re leaving value on the table.
