By Moyosore Salami

OPAY has launched seven advanced security features designed to enhance protection for its users and reduce fraudulent activities across its platform.

The Chief Commercial Officer of OPay, Elizabeth Wang, who spoke at the OPay Grand Prize Giveaway ceremony yesterday, said the features were developed in response to customer feedback and changing security threats within the financial services industry.

Wang said OPay has always prioritised customer safety and continues to invest heavily in building secure systems, adding that one of the key insights came from a customer survey conducted three years ago, which revealed the need for a quick way to lock accounts if a phone or card is lost. This led to the introduction of the USSD account lock feature, allowing users to block access immediately using any available phone.

She said another concern was account access and the need for a method that only the real user could use, noting that existing vendors couldn’t provide the level of accuracy OPay needed for Nigerian users. This prompted the company to build its own in-house facial verification system.

To combat scams, Wang said OPay also developed a real-time fraud monitoring system. The system uses a constantly updated database of suspicious accounts and can block transactions, send alerts, or prompt users with questions to verify the legitimacy of a transfer.

She said the system is supported by a dedicated team that tracks fraud patterns daily, collects data from industry sources, and feeds the information into OPay’s backend for real-time protection.

The Enterprise Marketing Manager, Oluwaseun Sumola, added that the company launched a security challenge to educate users about the new features and reward engagement.

Sunmola said many users participated by creating videos, songs, and social media content, with several winners receiving N1 million each and branded merchandise delivered to their homes.