Financial security is crucial in a world where digital solutions are used more and more. Understanding this vital requirement, OPay, the top mobile money platform in Nigeria and recipient of the consumer choice award from ADVAN as well as praise from the World Economic Forum (WEF), is pleased to unveil a comprehensive set of security improvements that guarantee user funds remain secure.
OPay complies with the strictest regulatory requirements in its capacity as a Central Bank of Nigeria (CBN)-licensed Mobile Money Operator (MMO). Additionally, the Nigeria Deposit Insurance Corporation (NDIC), which provides the same level of insurance coverage as conventional banks, safeguards user deposits. This dual degree of security guards against unanticipated events with consumers’ hard-earned money.
Beyond regulatory safeguards, OPay has actively developed innovative features to empower users with direct control over their financial security. Introducing the *955*131# USSD short code, users can instantly lock their OPay account in case their mobile phone is misplaced or stolen. This swift action can potentially save you from unauthorized transactions and ensure peace of mind. Additionally, the *955*132# USSD code grants you immediate control, allowing you to lock your 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 emphasize 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.
According to Mr. Dauda Gotring, Managing Director of OPay, He stated that “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.
He further added that “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.