Fintech has actually been of age in Nigeria– a minimum of 6 years. If the CBN restrictions Opay, among the early risers in the sector, now, it’s not about misconception. 6 years is a long adequate time for Opay to comprehend its service threats– consisting of competitors, guideline, clients– in Nigeria.
While the business has actually grown in leaps and bounds, it appears sluggish in reacting to these threats. Media examinations and consumers’ reports on these been plentiful before CBN ultimately stopped it from onboarding more clients
The majority of Nigerians might not know these though
Below are more features of status, services, danger management designs you might not understand previously the CBN prohibits Opay.
7 Things to Know About Opay
1)Opay has more than 35 million consumers throughout Nigeria
2)Opay, with over $billion in appraisal is among Nigeria’s 5 fintech unicorns
3)Opay has 500,000 representatives– more like branches
4)It’s a Norwegian fintech business under Opera Norway AS, with existence in Asia (Pakistan), Africa (Nigeria and Egypt), Latin America (Mexico). That is Nigeria, Egypt
5)Beyond using digital payment service with stock, sales management, and company reports, Opay render banking services consisting of deposit, withdrawal, and financing services
6)Before CBN intervention which started in 2015, Opay had actually an included that made it simple for anybody to open accounts with any person’s savings account or telephone number
7)Opay similarly permits deals in digital currency like Bitcoin on its platform.