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OPay announces physical address verification for clients to meet CBN request

By Ologeh Joseph Chibu

OPay, the popular digital payment platform, has issued a public notice to all its clients announcing the need for a mandatory physical address verification process in order to comply with the Central Bank of Nigeria’s (CBN) directive.

The notice, signed by the management of OPay, outlines the steps that will be taken to ensure this compliance.

Notice Details:

“Dear Valued Merchants,

To comply with CBN requirements, it is necessary for all merchants with OPay Business to complete a physical address verification. So, shortly, our staff will be visiting your location to assist with this verification process.

For your security, please ensure that you verify the identity of our personnel to prevent any possibility of impersonation or fraud. Our staff will carry proper identification (Opay ID Card, Lark Business Card, BD tool, or General Agent Platform) for this purpose.

Please note that our representative(s) will never ask for your password, OTP (One-Time Password), PIN, or other details related to your OPay Business account.

Thank you for your cooperation and understanding as we work together to meet these requirements.

Signed,
OPay Management”

Implementation and Security Measures:

OPay emphasizes the importance of security during this verification process. Merchants are advised to carefully verify the identity of OPay personnel visiting their premises. Legitimate OPay representatives will carry official identification, including an OPay ID Card, Lark Business Card, BD tool, or General Agent Platform credentials. Under no circumstances will these representatives request sensitive information such as passwords, OTPs, or PINs related to the merchant’s OPay Business account.

Purpose and Compliance:

The physical address verification process is a crucial step in aligning OPay’s operations with CBN regulations, ensuring the integrity and security of its financial ecosystem. This move demonstrates OPay’s commitment to adhering to regulatory standards and protecting its merchant community from fraud and impersonation.

Conclusion:

OPay management expressed gratitude for the cooperation and understanding of its merchants during this verification period. By working together, OPay and its merchants can continue to provide secure and compliant financial services, bolstering trust and reliability in the digital payment landscape.

For further information or inquiries, merchants are encouraged to contact OPay’s customer service.

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