A leading fintech company, OPay, has unveiled enhanced security features to protect the funds of customers.
In a statement issued on Sunday, the mobile money platform said the innovations were in tandem with its desire to provide peace of mind for the users of their platform.
OPay is a mobile money operator licensed by the Central Bank of Nigeria and it recently revealed that its users’ deposits were protected by the Nigeria Deposit Insurance Corporation, the same as the traditional banks, offering a double layer of protection for users’ hard-earned money against unforeseen circumstances.
On the new security features, the Managing Director of OPay, Mr Dauda Gotring, said, “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.”
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.
“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,” part of the statement read.
