LAGOS – In a statement issued on Sunday, leading fintech company OPay announced the rollout of advanced security features designed to protect its customers’ funds. This initiative aligns with OPay’s commitment to providing peace of mind to its platform users.
Licensed by the Central Bank of Nigeria, OPay emphasized that its users’ deposits are protected by the Nigeria Deposit Insurance Corporation, similar to traditional banks. This double layer of protection ensures that users’ hard-earned money is safeguarded against unforeseen circumstances.
Regarding the new security measures, OPay Managing Director Mr. Dauda Gotring stated, “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.”
A key feature of the enhanced security is a USSD short code, which allows users to immediately lock their accounts if their phone or card is lost or stolen. Users can dial #955131# to lock their account and #955132# to lock their card, ensuring quick and hassle-free protection.
OPay is also focusing on preventing phishing attacks and scams by raising user awareness through regular SMS and in-app notifications. These reminders stress the importance of never disclosing one-time passwords, as OPay staff will never request them. This proactive approach aims to foster a vigilant community against fraudulent activities.
Additionally, OPay’s advanced fraud detection system actively monitors for suspicious activity. When potential scams are identified, the system triggers an immediate double-confirmation alert before any transaction proceeds. This pause allows users to verify the recipient and transaction details, effectively preventing scams before any damage occurs.
“Protecting our users in the digital marketplace is paramount,” OPay’s statement concluded, highlighting the company’s dedication to providing a secure financial environment for its customers.
