Tag: OPAY

Nigeria’s leading financial service provider OPay has announced a strategic partnership with AfriGO Card, powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of Nigeria Inter-Bank Settlement System (NIBSS).

Opay’s strategic partnership with AfriGO, Nigeria’s National Domestic Card Scheme, is a significant move to further enhance availability of digital payment services to Nigerians.

AfriGO aims to deepen financial inclusivity by utilizing innovative products, customer-focused approach and cutting-edge technology.

By reducing the country’s dependency on foreign exchange (FX) for payment transactions and ensuring data sovereignty, AfriGO Card strengthens, empowers local businesses and creates new opportunities within the growing card business ecosystem in Nigeria.

The OPay/AfriGO partnership will facilitate rapid scaling whilst significantly ensuring that secure and convenient payment solutions are available across Nigeria.

“Our partnership with AfriGO aligns perfectly with our goal of simplifying financial services for every Nigerian,” MD/CEO at Opay, Mr. Dauda Gotring, said.

According to Gotring, “The OPay/AfriGO card is not just a product; it’s a powerful tool that will enable us to reach more Nigerians, particularly those who have been underserved by traditional banking services.

“This will provide Nigerians with a more affordable payment option, enable instant settlement of transactions, and further promote financial inclusion across the country.”

Read Also: Opay, UI sign pact on scholarship for 20 gifted students

Speaking on the collaboration, the Managing Director & CEO of Afrigopay Financial Services Ltd. (AFSL), Mrs. Ebehijie Momoh, said “This partnership is set to transform financial service delivery, particularly in underserved areas.

“Agent networks expand coverage by supporting local businesses and offering key banking services, such as purchases, deposits, withdrawals, and money transfers, thus enhancing accessibility and promoting financial inclusion.”

Momoh stated that wth AfriGO Instant Settlement service, merchants and agents will benefit from the immediate finalization of transactions, leading to greater efficiency, improved cash flow, and reduced risk.

“Supported by robust technology infrastructure and effective liquidity management to ensure smooth and secure operations, together, we will make financial services faster and more accessible,” she added.

AfriGO underscores its commitment to foster local innovation while ensuring that solutions are relevant and effective for Nigerian consumers. The partnership reinforces OPay’s commitment to offering advanced, efficient payment solutions to its millions of customers.

OPay’s collaboration with AFSL to launch the OPay/AfriGO Card is expected to significantly boost digital payment adoption in Nigeria, offering a secure, local alternative to international payment cards.

As OPay expands its services, this partnership will play a key role in shaping the future of payments in Nigeria.

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology.

The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others.

Renowned for its super-fast experience and reliable network, OPay is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigerian Deposit Insurance Corporation (NDIC) with the same insurance coverage as commercial banks.

Nigeria’s leading financial service provider OPay has awarded N12 million in scholarships to 40 deserving students of Ahmadu Bello University (ABU), Zaria.

Under the heart-warming gesture and another laudable initiative aimed at empowering the next generation, each student will receive N300,000, easing financial pressures and encouraging them to pursue their studies with confidence.

The scholarship award ceremony, held at ABU’s Vice-Chancellor’s office, marked a significant milestone for both OPay and the students.

Managing Director of OPay and a proud ABU alumnus, Mr. Dauda Gotring, spoke about what it meant for him personally to support students at the university that shaped his life.

“ABU holds a special place in my life, and I’m thrilled to give back to students here who show such promise and determination,” he said.

Gotring added: For us at OPay, giving back to society—especially through education—is at the heart of what we do.”

ABU’s Vice-Chancellor, Prof. Kabiru Bala, expressed heartfelt gratitude for the scholarships, emphasizing the difference they would make in the students’ lives.

“This support from OPay will lift a heavy burden off our students, helping them focus on their dreams and academic goals. We are incredibly grateful to OPay for their generosity and partnership,” he said.

OPay’s new initiative aims to support 400 students annually across Nigerian universities, including the University of Ibadan and Nnamdi Azikiwe University, investing N120 million each year to help more young people thrive.

Read Also: OPay leads future of secure payments with BAFI award win

This decade-long commitment will make a meaningful impact on Nigerian education, nurturing future leaders and creating opportunities for students in need.

Yet, OPay’s dedication to uplifting communities doesn’t stop there, as the organisation is engaging in conversations and plans on initiatives aimed at empowering women in Zaria through entrepreneurship programs, startup support, and skills training.

By focusing on both education and economic empowerment, OPay is dedicated to creating a ripple effect of positive change that strengthens communities and local economies.

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology.

The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others.

Renowned for its super-fast experience and reliable network, OPay is licensed by the Central Bank of Nigeria (CBN) and insured by the Nigerian Deposit Insurance Corporation (NDIC) with the same insurance coverage as commercial banks.

OPay, one of Nigeria’s leading financial institutions, recently unveiled its groundbreaking Large Transaction Shield feature, designed to provide users with unparalleled control and protection over their funds. Recognizing the increasing importance of secure digital transactions, OPay has developed this innovative solution to safeguard users from unauthorized activity. The key component of the Large Transaction Shield is its robust facial recognition authentication, which adds an extra layer of security to high-value transactions.

Furthermore, the Large Transaction Shield allows users to set personalized limits for single, daily and monthly transfers. This ensures that large or unusual transactions exceeding the user defined limits are subject to additional verification. When a transaction surpasses the preset threshold, users are prompted to confirm their identity through facial verification adding and extra layer of security. This additional layer of facial verification protects users against unauthorized activity, providing them with greater confidence in their financial transactions.

“We are committed to delivering cutting-edge financial solutions that prioritize user safety and convenience,” said  Dauda Gortring, CEO of OPay. “The Large Transaction Shield is a testament to our dedication to providing a secure and reliable platform for our customers. By requiring facial verification for large transactions, we are further strengthening our defenses against potential fraud and ensuring that every payment is authorized by the rightful account holder.”

Read Also: OPay launches security features to secure customers’ funds

The Large Transaction Shield offers a comprehensive suite of benefits, including enhanced security, customization, and convenience. OPay users can rest assured that their funds are protected from unauthorized transactions. Additionally, the feature is designed for users to have the ability to set personalized transaction limits and tailor protection to their specific needs, providing greater control over their finances.

OPay’s Large Transaction Shield is a significant step forward in securing digital payments and underscores the company’s leadership in the financial sector and commitment to innovation as well as user protection.

About OPay

OPay was established in 2018 as a leading financial institution in Nigeria with the mission to make financial services more inclusive through technology. The company offers a wide range of payment services, including money transfer, bill payment, airtime & data purchase, card service, and merchant payments, among others. Renowned for its super-fast experience and reliable network, OPay is licensed by the CBN and insured by the NDIC with the same insurance coverage as commercial banks.

A leading financial institution, Opay has launched a new feature to enhance the protection and security of users finances.

The new feature, the Night guard feature is aimed at preventing any breach to users accounts.

It is a first-of-its-kind functionality in the financial industry, empowering users by significantly enhancing the protection of their finances.

According to Opay, a surge in illicit financial activities and fraud has necessitated the need for an improved layer of security, and it  is leading the charge with new and innovative features.

It added that one of the challenges of the financial landscape, as echoed by many consumers, is security, with traditional measures like two-factor verification and PINs serving as primary protective features.

In a statement, the Chief Executive Officer of OPay Nigeria, Mr. Dauda Gotring, stated, “The Nightguard feature represents a significant advancement in Nigeria’s mobile payment landscape, offering users a robust tool to secure their financial transactions. As the leader in the fintech industry in Nigeria, OPay is committed to placing control firmly in the hands of its customers, ensuring that they have the power to safeguard their finances.”

Read Also: OPay launches security features to secure customers’ funds

The  Opay Nightguard assists users in securing their accounts during hours when they are most vulnerable—while they sleep and during certain personal lifestyle periods such as late-night outings, evening social gatherings, and more.

It  allows users to set a timeframe between 11:00 PM and 7:00 AM during which any transfer attempts will require enhanced identity verification. Transfers initiated within this timeframe must pass facial recognition, ensuring that users can prevent unauthorized access to their accounts and funds during the night, providing unparalleled security and peace of mind.

The effectiveness of the feature underscores OPay’s dedication to customer security and satisfaction. These features are unique to the OPay App and provide compelling reasons for users to download and utilize the platform. For the public, particularly those concerned about phone hacks and the security of their funds, Nightguard offers a strongly resonating benefit—the ability to set up the feature and sleep soundly, knowing their finances are protected.

Mobile money platform – Opay – has announced a robust suite of security enhancements aimed at ensuring the security of its customers.

Its Managing Director Dauda Gotring said the move was in recognition of the critical need to ensure financial security in a world increasingly reliant on digital solutions.

In a statement, OPay, which operates as a licensed Mobile Money Operator (MMO) by the Central Bank of Nigeria (CBN), said it adheres to the highest regulatory standards.

Furthermore, user’s deposits are protected by the Nigeria Deposit Insurance Corporation (NDIC), offering the same level of insurance coverage as traditional banks.

This double layer of protection shields users’ hard-earned money against unforeseen circumstances.

Gotring said beyond regulatory safeguards, OPay has actively developed innovative features to empower users with direct control over their financial security.

Read Also: User funds are now insured up to N5m under NDIC – OPay

He said, for instance, that by introducing the *955*131# USSD short code, users can instantly lock their OPay account in case of mobile phone being misplaced or stolen.

According to him, this swift action can potentially save users from unauthorized transactions and ensure peace of mind.

Additionally, the *955*132# USSD code grants them immediate control, allowing them to lock their OPay card with a single dial.

Gotring also said protecting users’ data from phishing attacks and scams is equally crucial hence, it is actively committed to raising user awareness through regular Short Message Service (SMS) and in-app notifications.

He said: “These reminders emphasise the importance of never disclosing your One-Time Password (OTP), as no OPay staff will ever request it. By empowering users with knowledge, OPay fosters a vigilant community against fraudulent activities.

“At OPay, users’ financial security is our top priority. By combining comprehensive regulatory compliance, innovative security features, and ongoing user education, we are building a digital banking ecosystem where users can transact with confidence.

“We have developed a short code to allow users to lock their accounts immediately if their phone or card is misplaced or stolen. So, if this ever happens to our dear users’, they can get a phone and dial #955*131# to lock their account and #955*132# to lock your card immediately without any hassle.”

Adding another layer of protection, OPay’s advanced fraud detection system actively monitors for suspicious activity. If a potential scam is identified, the system triggers an immediate double-confirmation alert before any transaction occurs.

This crucial pause empowers users to verify the recipient and transaction details, effectively catching scams in their tracks before any damage is done. It’s like having a vigilant financial guard protecting users in the digital marketplace.