How Does Opay Work- When the word “OPay” pops up, what comes to the mind of an average Nigerian was: bike hailing service. In 2029, OPay was all out as ORide, helping people move fast from one location to another in busy cities like Lagos, where traffic jam is a daily norm. Unfortunately , ORide service was grinded to a halt following the ban of motorcycles by the government in major cities in the country and also economic hardship caused by the Covid-19 lockdown .
But did OPay fold up? No , rather it underwent what I call Metamorphosis to become a digital money platform which is fast becoming a household name. It appears this current form of Opay is even more stronger than ORide. In this article, you will discover the current form of Opay work, both for individual and commercial purpose.
In the next paragraph, I will be guiding on how OPay work.
Opay is a mobile money platform created by Opay digital services limited. It was launched in 2018 and is licensed by the Central Bank of Nigeria (CBN). It offers digital financial services in over all the 36 states and FCT of Nigeria.
Opay digital platform serve two purposes
This is how Opay work for personal purpose:
As an Opay agent/ merchant, you can make some cool cash offering banking and financial services in your neighbourhood/ community. All you need is to register as an OPay merchant and start earning. Here is how OPay work for commercial purpose
As an OPay merchant, you enjoy a lot of benefits such as:
Opay recently introduced a mini POS which has a lot of advantages over the regular POS. Some of these advantages include:
Here is how to set up an OPay merchant account:
OPay, established in June 2018 is a safe mobile money app. It is licensed and regulated by the Central Bank of Nigeria. This financial digital platform is in partnership with some reputable companies like Google, MTN, Flutterwave, Interswitch. OPay is located at Alexander House, Otunba Jobi Fele Way , Ikeja in Lagos, Nigeria. Office is usually open between 9am and 5pm, Monday to Friday.
There are two ways you can earn on OPay platform :
OPay Referrals: When you invite family and friends to open account on OPay, you earn 150 naira and when those you invite, invite others, you will be paid 30 naira. You can invite as many people as possible.
OPay merchant has already been discussed in detail.
One of the ventures operated by OPay is OKash, that offers quick loan to people. It is a loan app that does not operate paper transaction and do not require you going to queue at the bank. You can access loan of up to 50,000 naira.
This is a savings feature that enables its users save money with an interest of 15% per annum . Also, the platform allows customers make withdrawals anytime without any hidden charges.
You can withdraw at anytime from your savings without any penalty or charges.
I believe you now understand how Opay work. Opay is a mobile money app is highly beneficial both on individual basis and commercial level. In fact, a lot of jobless Nigerians are now making money as Opay merchants.
Opay is affliated to Blueridge microfinance bank. The bank provides all the financial support needed.
Yes. Your BVN is required to open an OPay account, also your utility bill, national I.D card, driver’s license or international passport is also required.
Yes. Opay has the full approval of CBN to carry out financial transactions digitally.
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