Nigeria: OPay introduces groundbreaking features to ensure user protection

A leading fintech company, OPay, has introduced advanced security features to safeguard customer funds.

In a statement the mobile money platform emphasized that these innovations align with its commitment to providing peace of mind for its users.

OPay, a mobile money operator licensed by the Central Bank of Nigeria, recently announced that its users’ deposits are insured by the Nigeria Deposit Insurance Corporation, offering the same level of protection as traditional banks and providing an additional layer of security for users’ funds.

Regarding the new security features, OPay’s Managing Director, Mr. Dauda Gotring, stated, “At OPay, the financial security of our users is our top priority. Through comprehensive regulatory compliance, innovative security measures, and continuous user education, we are creating a digital banking ecosystem where users can conduct transactions 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.”

According to the firm, the USSD short code allows users to instantly lock their OPay account in case their mobile phone is misplaced or stolen, adding that it also grants the user immediate control, allowing them to lock their OPay card with a single dial.

“Protecting users’ data from phishing attacks and scams is equally crucial. OPay is actively committed to raising user awareness through regular SMS and in-app notifications. These reminders emphasise the importance of never disclosing your one-time password, as no OPay staff will ever request it. By empowering users with knowledge, OPay fosters a vigilant community against fraudulent activities.