By Esther Agbo
In response to rising fraud cases in Nigeria, OPay has introduced ‘Nightguard,’ a new security feature aimed at bolstering customer fund protection, especially during vulnerable hours.
The initiative underscores the fintech giant’s commitment to tackling financial crimes that have surged in recent months.
Recent data reveals over 11,000 fraud cases reported by financial institutions in Nigeria during the first quarter of 2024 alone. OPay’s ‘Nightguard’ seeks to address this challenge by offering customers an additional safeguard against unauthorised transactions, particularly at night.
According to a statement from OPay, the ‘Nightguard’ feature, unique within the industry, allows users to activate a security window from 11:00 pm to 7:00 am. During this period, any attempt to transfer funds will require enhanced verification measures, including facial recognition.
This approach aims to deter fraudulent activities during late hours when users may be less vigilant.
“OPay Nightguard assists users in securing their accounts during hours when they are most vulnerable, while they sleep and during certain personal lifestyle periods such as late-night outings, evening social gatherings, and more.
“The Nightguard feature allows users to set a timeframe between 11:00 pm and 7:00 am during which any transfer attempts will require enhanced identity verification,” it stated.
The CEO of OPay Nigeria, Dauda Gotring, emphasised the significance of this feature in the context of Nigeria’s evolving mobile payment ecosystem.
He noted that ‘Nightguard’ not only empowers users to take control of their account security but also sets a new standard in the industry.
“The Nightguard feature represents a significant advancement in Nigeria’s mobile payment landscape, offering users a robust tool to secure their financial transactions. As the leader in the fintech industry in Nigeria, OPay is committed to placing control firmly in the hands of its customers, ensuring that they have the power to safeguard their finances.”
He further stated that, “The effectiveness of the Nightguard feature underscores OPay’s dedication to customer security and satisfaction.
“These features are unique to the OPay App and provide compelling reasons for users to download and utilise the platform. For the public, particularly those concerned about phone hacks and the security of their funds, Nightguard offers a strongly resonating benefit: the ability to set up the feature and sleep soundly, knowing their finances are protected.”
The firm positions this feature as a key differentiator in a competitive market, providing users with the confidence to manage their funds safely, regardless of the time of day.