Nigeria: OPay Launches ‘Nightguard’ to Enhance Customer Fund Security

OPay, a leading financial technology firm, has unveiled a new feature called Nightguard, designed to provide an additional layer of security for customer funds. The company announced this development in a statement Monday, emphasizing its commitment to combating rising fraudulent activities and ensuring the safety of its users’ finances.

In the first quarter of 2024 alone, Nigeria’s financial institutions reported 11,472 cases of fraud. In response to these growing threats, OPay has introduced Nightguard, an innovative feature that sets a new standard in the financial industry by significantly boosting the security of users’ accounts.

According to OPay, Nightguard is specifically designed to protect users during periods when they are most vulnerable—such as while sleeping or during late-night outings and social gatherings. The feature allows users to set a security timeframe between 11:00 pm and 7:00 am, during which any attempted transfers will require enhanced identity verification.

The firm explained that transfers initiated within this designated period must undergo facial recognition, ensuring that unauthorized access to accounts and funds is effectively blocked. This provides users with a heightened sense of security and peace of mind during nighttime hours.

Mr. Dauda Gotring, Chief Executive Officer of OPay Nigeria, commented on the launch, stating, “The Nightguard feature marks a significant advancement in Nigeria’s mobile payment landscape, equipping users with a powerful tool to secure their financial transactions. As a leader in the fintech industry, OPay is dedicated to empowering its customers, giving them the ability to protect their finances with confidence.”

He added that the effectiveness of Nightguard highlights OPay’s unwavering commitment to customer security and satisfaction. The unique features of the OPay App, including Nightguard, offer compelling reasons for users to download and engage with the platform. For those particularly concerned about phone hacks and the security of their funds, Nightguard provides a strong sense of assurance, enabling them to sleep soundly, knowing their finances are well-protected.