By Nurudeen Adebayo
OPay, Nigeria’s leading mobile money platform, has unveiled a suite of robust security enhancements to ensure the safety of users’ funds.
As a licensed Mobile Money Operator (MMO) by the Central Bank of Nigeria (CBN), OPay adheres to the highest regulatory standards. Additionally, user deposits are protected by the Nigeria Deposit Insurance Corporation (NDIC), providing insurance coverage comparable to that of traditional banks. This dual protection framework offers users a significant safety net against unforeseen financial risks.
Beyond regulatory measures, OPay is pioneering innovative features that give users direct control over their financial security. The introduction of the 955131# USSD short code allows users to instantly lock their OPay account if their mobile phone is lost or stolen, preventing unauthorized transactions. Similarly, the 955132# USSD code enables users to lock their OPay card quickly and easily.
To combat phishing attacks and scams, OPay is committed to raising user awareness through regular SMS and in-app notifications. These alerts stress the importance of safeguarding personal information, such as One-Time Passwords (OTPs), which OPay staff will never request. By equipping users with knowledge, OPay is fostering a vigilant community capable of resisting fraudulent activities.
“At OPay, users’ financial security is our top priority,” said Mr. Dauda Gotring, Managing Director of OPay. “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.”
Gotring further emphasized the utility of the USSD short codes, stating, “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 955131# to lock their account and 955132# to lock their card immediately without any hassle.”
Adding another layer of protection, OPay’s advanced fraud detection system monitors transactions for suspicious activity. If a potential scam is detected, the system triggers a double-confirmation alert before proceeding with any transaction. This crucial step allows users to verify recipient and transaction details, effectively stopping scams in their tracks.
