Mobile money platform – OPay has announced a robust suite of security enhancements aimed at ensuring the security of its customers.
Its Managing Director, Dauda Gotring said the move was in recognition of the critical need to ensure financial security in a world increasingly reliant on digital solutions.
In a statement, OPay, which operates as a licensed Mobile Money Operator (MMO) by the Central Bank of Nigeria (CBN), said it adheres to the highest regulatory standards.
Furthermore, user’s deposits are protected by the Nigeria Deposit Insurance Corporation (NDIC), offering the same level of insurance coverage as traditional banks.
This double layer of protection shields users’ hard-earned money against unforeseen circumstances.
Gotring said beyond regulatory safeguards, OPay has actively developed innovative features to empower users with direct control over their financial security.
He said, for instance, that by introducing the *955*131# USSD short code, users can instantly lock their OPay account in case of mobile phone being misplaced or stolen.
According to him, this swift action can potentially save users from unauthorized transactions and ensure peace of mind.
Additionally, the *955*132# USSD code grants them immediate control, allowing them to lock their OPay card with a single dial.
Gotring also said protecting users’ data from phishing attacks and scams is equally crucial hence, it is actively committed to raising user awareness through regular Short Message Service (SMS) and in-app notifications.
He said: “These reminders emphasise 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.
“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.”
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.
Credit: thenationonlineng.net
