See the Accounts OPay Will Block on March 1<\/b><\/p>\n
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Nigerian financial technology company, OPay has announced a major security update in its operations.<\/span><\/p>\n Starting from March 1, 2024, the company will remove fraudulent accounts from its system and block customers whose accounts are not compliant with Know Your Customer (KYC) requirements.<\/span><\/p>\n This announcement was made during a news conference held on Wednesday.<\/span><\/p>\n KYC, a standard banking process, involves verifying the identity and address of customers to prevent the misuse of banking services.<\/span><\/p>\n The decision comes in the wake of a report that highlighted vulnerabilities in OPay\u2019s registration and verification process for new accounts.<\/span><\/p>\n In response to these concerns, Olayemi Precilia, the director of cards business at OPay, assured that security measures on the platform have been significantly upgraded.<\/span><\/p>\n She revealed that new customers will now be required to provide their National Identity Number (NIN) as part of the account opening process.<\/span><\/p>\n As the deadline approaches, OPay customers are advised to update their account details to meet the KYC requirements to avoid any inconvenience.<\/span><\/p>\n She said,<\/span><\/p>\n \u00a0\u201c<\/span>When you log into your app and you have a tier one account and you don\u2019t have your NIN, it will ask for your NIN. You cannot move forward without inputting that NIN. So, that is one of the things we\u2019ve already done.<\/span><\/i><\/p>\n \u201cThe second thing is, for new customers, you\u2019re going to start with the NIN. That\u2019s what we\u2019re implementing. So, we\u2019re pulling information from your NIN into your wallet. That is going live next month.<\/span><\/i><\/p>\n \u201cAnd we have a timeline \u2014 March 1st \u2014 wherein anyone who is not compliant will be locked out.\u201d<\/span><\/i><\/p>\n Opay\u2019s director of partnerships, Ikponmwosa Kolawole Odiase, said fraudulent accounts will be yanked off\u201d the firm\u2019s system.<\/span><\/p>\n Going forward, according to Odiase, customers will be required to link their accounts with NIN and bank verification numbers (BVNs).<\/span><\/p>\n Speaking on the issue of poor facial verification on the application, he said the firm intends to deploy a system where there will be a backend verification of customers\u2019 facials with BVNs and NINs.<\/span><\/p>\n He said,\u00a0<\/span><\/p>\n \u201c<\/span>It\u2019s a collaboration between all relevant stakeholders \u2014 the regulators, the KYC agencies. All this is a way to curb fraud.<\/span><\/i><\/p>\n The fraudsters are not sleeping and we also are waking up to the challenge. It\u2019s an industry challenge, unfortunately.<\/span><\/i><\/p>\n \u201cSo many fictitious accounts will go\u201d<\/span><\/i><\/p>\n WHAT IS OPAY\u00a0<\/b><\/p>\n OPay is a payment platform offering web and mobile money services in Africa.<\/span><\/p>\n So, simply put, the Opera browser company founded a payment wallet. In case you are wondering where OPay got its name from, the name Opay is coined from the word OPera Payment.<\/span><\/p>\n OPay was founded in 2018 and has since then grown to become very popular, any Lagosian can testify to this. The payment service is also now popular in most major cities in Nigeria like Enugu, Aba, Ibadan, and Kano.<\/span><\/p>\n The platform allows its users to shop and pay for goods and services through their mobile or web browser. The services that they offer initially started with essential services such as buying of mobile data and paying for utility services like electricity and cable subscriptions.<\/span><\/p>\n The Opera browser is a very widely used browser in Africa. It is the second most used browser in Africa after Google Chrome Browser.<\/span><\/p>\n And also so many investors have already taken part in the founding of Opay and they have been grossing in a large amount of profit from the service.<\/span><\/p>\n Features of OPay App<\/b><\/p>\n The OPay mobile application is a one-stop-shop for all Opera services. Here are some of the things that you can do on OPay:<\/span><\/p>\n Buy Airtime<\/b>: You can buy airtime for your mobile phone and other people. MTN, 9Mobile, Glo, and Airtel are currently supported<\/span><\/p>\n Buy Data<\/b>: You can buy a data plan for any mobile phone. MTN, Glo, Airtel, and 9Mobile are currently supported by this service.<\/span><\/p>\n Subscribe to Pay TV:<\/b> You can subscribe to Satellite and Terrestrial pay TV services like DSTV, GOTV, and Startimes.<\/span><\/p>\n Pay Electricity Bill:<\/b> You can now pay for Electricity. Several Electricity distribution companies (Discos) are supported some of which are, Eko, Abuja, Ibadan, Kano, Ikeja, and Port Harcourt<\/span><\/p>\n Hail a Ride<\/b>: There are several hailing services offered by OPay. You have ORide for hailing bikes, OCar for hailing cars (similar to Uber), OTrike for hailing tricycles, and OBus for hailing buses.<\/span><\/p>\n Order for Food Delivery:<\/b> You can place orders of food from local restaurants that are near you.<\/span><\/p>\n Transfer Money<\/b>: You can use Opay to transfer money to other OPay users or any Nigerian bank account.<\/span><\/p>\n Pay with QR<\/b>: This is a new service that will enable you to pay for goods and services conveniently at physical locations and brick-and-mortar stores. Merchants that have support for OPay QR would have a sign showing that. After shopping just scan the QR code on the payment page to make the payment for the goods.<\/span><\/p>\n Receive Money by QR<\/b>: As an OPay user. This means you can scan your QR code to send you money.<\/span><\/p>\n Get a Quick Loan:<\/b> Using the OKash service you can get a quick short-term loan.<\/span><\/p>\n Make Investment<\/b>: OWealth offers a 10% annual rate on your investment.<\/span><\/p>\n Fund your Betting Account<\/b>: You can also fund your betting account with OPay. Sports Betting services that are currently supported on OPay include Bet9ja, NairaBet, Cloudbet, and Supabets,<\/span><\/p>\n List your Products and Services<\/b>: OList is a classified ads site that enables you to post ads about your business.<\/span><\/p>\n Build an Online Presence<\/b>: OLeads is a service that enables you to build a website in minutes. It is a very easy, fast, and affordable way to build an online presence for your business.<\/span><\/p>\n OPay Agent Requirements<\/b><\/p>\n What would be required of you to become an Opay agent? Below are the requirements of all Opay agents:<\/span><\/p>\n You must know how to read, write, and communicate.<\/span><\/p>\n Provide the following documents; passport photo, utility bill, means of ID, and Corporate Affairs Commission documents (optional).<\/span><\/p>\n A small or medium-sized shop would be required to be used as your customer base contact area.<\/span><\/p>\n You must have an Android mobile phone that is fully functional and has an active internet connection.<\/span><\/p>\n Customer relation skills will be a plus.<\/span><\/p>\n Benefits of an OPay Agent<\/span><\/p>\n Everyone requires financial freedom as an OPay agent, You would have the following benefits.<\/span><\/p>\n You would enjoy quick settlement and cash withdrawal from your OPay wallet.<\/span><\/p>\n OPay would give you a free POS as an agent, you do not have to pay for it.<\/span><\/p>\n You would not be required to pay any amount to sign up.<\/span><\/p>\n You would enjoy a quick response from the customer service center.<\/span><\/p>\n You would enjoy zero charges for all your transactions such as electricity bills, airtime recharge, cable TV subscriptions, cash transfers, and cash withdrawals).<\/span><\/p>\n How to Become an OPay Agent<\/b><\/p>\n Here we will show you How to Become an OPay Agent. You can become an OPay agent by following the step by step as seen below;<\/span><\/p>\n Download the OPay App on your Mobile phone.<\/span><\/p>\n Use your active phone number to complete the sign-in process.<\/span><\/p>\n Chat with the Support team and request your registration form.<\/span><\/p>\n Fill out the form correctly and provide the following attachments; utility bill, passport photo, means of ID, and CAC documents (these are optional).<\/span><\/p>\n Finally, complete the process, you can now start your transactions.<\/span><\/p>\n Description<\/b><\/p>\n Developed of payment platform designed to help users send and receive money from any bank in Nigeria. The company’s platform lets users send money, pay bills, and buy food by providing secure, easy-to-use, and affordable financial services with fast user experience, incentive packages on transfer\/airtime, and data top-up, enabling users to have full control of their finances, payments, and transactions with ease, all on one platform<\/span><\/p>\n","protected":false},"excerpt":{"rendered":" See the Accounts OPay Will Block on March 1 Nigerian financial technology company, OPay has announced a major security update in its operations. Starting from March 1, 2024, the company will remove fraudulent accounts from its system and block customers whose accounts are not compliant with Know Your Customer (KYC) requirements. This announcement was …<\/p>\n","protected":false},"author":1,"featured_media":575,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[37],"tags":[],"class_list":["post-2001","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-fintech"],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/posts\/2001","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/comments?post=2001"}],"version-history":[{"count":0,"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/posts\/2001\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/aqqute.com\/blog\/wp-json\/"}],"wp:attachment":[{"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/media?parent=2001"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/categories?post=2001"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/aqqute.com\/blog\/wp-json\/wp\/v2\/tags?post=2001"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}