Opay Digital Services Limited, one of Nigeria’s leading Fintech companies, has reassured customers and members of the general public of its desire to deliver improved service this year.
This was made known as the company began the year on a bright note hosting members of the press to a media Parley on Wednesday 24th of January, 2024 at the Marriott Hotel in Ikeja, Lagos.
At the event which was well attended by pressmen from reputable media houses in the country, Opay top management staff spoke extensively about the essence of the media parley and their plans to deliver improved services to customers.
The media parley was first of its kind organised by the company and it is aimed at establishing a cordial and collaborative relationship with the press. It will also by extension create the right avenue for members of the public to get first-hand information about what the company offers, its new innovations and drive during the course of the year.
Opay’s Head of Marketing Communications, Adekunle Adeyemi in his keynote address stressed the essence of the parley. When he said; “We are dedicated to transparency, accountability, and open communication, and we believe that a robust partnership with the media is essential for accurately conveying our messages to the public.”
He went further by saying; “We acknowledge the power of the media, but more importantly, we recognize the responsibility that haunts your individual roles and we are eager to work closely with you to share our stories, our impacts, and overall achievement.”
“Our aim is to be a reliable source for you, ensuring access to accurate and timely updates from us as we remain committed to crucial societal goals. As we embark on this journey together, we look forward to building a relationship based on trust, mutual respect, and understanding.
“We are open to inquiries and we believe that this relationship will foster growth and improvement. In conclusion, we are eager to collaborate with each of you. Our success is attainable with your support and together we can navigate challenges and celebrate successes.
Recall that OPay which is now almost like a household name in the ever-booming fintech business was founded in Nigeria in 2018 and ever since has grown to become a top and enviable brand in the country. It presently boasts of over 40 Million users, over 500 thousand agents, and over 300 thousand merchants well spread across the nooks and crannies of Nigeria. It has no doubt been helpful in creating job opportunities for the teeming youths who are out there in search of jobs in the over-saturated employment market.
The company is contributing immensely to the country’s education sector. It has supported 1,300 children and over 57 thousand undergraduate students’ education. It has embarked on renovations of a few school campuses across the country. All these were made possible courtesy of the OPay Scholarship Program; OPay Campus Upgrade and Play4aChild initiative.
During the interactive session with the press, Opay through its top management responded to questions asked on the operation of the company and how it intends to make their platforms more secure. Below are what was said:
- Opay takes technology very seriously, which is why it was able to get approval from the regulator. This was possible because the company has put in all the security measures in place to ensure that transactions are secure.
- Opay has also ensured that it sends security information to our customers via social media platforms, SMS and email, to protect them from fraud. We always sensitize our customers periodically, through in-app messages, social media, for customers to be free from fraudsters. It understands the ever-dynamic nature of the perpetrators of fraud. Reason while it is consistently improving on ways of securing its various platforms
- Beyond putting infrastructure in place that ensures Opay platform is secure, the company has provided the USSD codes that customers can dial in the event of an issue. For instance, if your phone has been stolen or your virtual card was stolen, there are numbers the customer can dial that will prevent anyone from getting access to the account. The objective is to ensure that regardless of the situation, our customers are adequately protected.
- We have invested so much in technology, compared to the traditional institutions. However, in areas where connectivity is poor, it is going to affect our network in those areas, but in areas where there is strong connectivity, carrying out transactions, using the opay app, is always seamless.
- Opay collaborates with other banks. Far from what some people say that funds with Opay are not safe, the truth is your funds are not with Opay. What this means is that, the company has partnered with tier 1 banks, because it is concerned with the safety of depositors’ funds. So, the way it is structured is that those funds sit with commercial banks. So the fact that you have N1million in Opay wallets, those funds actually reside with the banks. The fear should be when the banks are collapsing, not if Opay is collapsing. Nothing happens to the funds in your wallets because it is sitting with the commercial banks.
- Opay is now restricting people who are not up to 18 years. There is a restriction around the age limit of those who open an account with Opay. If you are less than 18 years, you cannot open an account with Opay as the company is doing everything possible to adhere strictly to regulations.
- In partnership with Interswitch, the company is bent on making financial services more available to customers through technology, hence our partnership with Interswitch to ensure that payment can be seamless for our customers.
- On KYC, Opay has done the first two stages of the KYC. If you are under the tier one account, once you login, the app will ask you for your NIN. For new users, you must input your NIN before you can carry out transactions.
- Opay is pulling details from your NIN, thereby saving you the trouble of filling the registration form. Anybody who is not in compliance with these new measures will be locked out.
- Any fraudulent account will be removed from the Opay platform. Opay is serious about complying with the CBN directive. So, OPay appeals to its users to ensure that details used in registering their NIN, BVN are the same used in opening their Opay accounts.
- As regard financial inclusion, with this new directives from our regulator, Opay believe that with time, nearly all Nigerians will have NIN and BVN and this would enable them achieve more in that regard.The good news is that with the new directives, we will be able to address the issue of fraud in the Fintech space. There are so many fictitious accounts that will be yanked off.
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