A Nigerian popular financial technology company, Opay, has announced that it will eliminate bogus accounts and enforce rigorous KYC compliance as of March 1, 2024, in an effort to strengthen the security of its financial platform.
OPay emphasized the value of the KYC (Know Your Customer) procedure during a news conference on Wednesday.
The company stressed that it guarantees consumers’ accurate identification and address information.
The goal of the action is to stop improper use of the platform’s features and safeguard user deposits against possible fraud, the company stated.
The decision was made in response to a recent report that found flaws in OPay’s new customer registration and verification procedures.
Olayemi Precilia, OPay’s director of cards business, allayed public fears by reassuring them that security measures have been considerably upgraded.
“When you log into your app and you have a tier one account and you don’t have your NIN, it will ask for your NIN. You cannot move forward without inputting that NIN. So, that is one of the things we’ve already done,” she said.
“The second thing is, for new customers, you’re going to start off with the NIN. That’s what we’re implementing. So, we’re pulling information from your NIN into your wallet. That is going live next month.
“And we have a timeline — March 1st — wherein anyone who is not compliant will be locked out.” [CONTINUE READING HERE]
DISCLAIMER
For publication of your news content, articles, videos or any other news worthy materials, please send a mail to thefreshreporters@gmail.com
Join Other Great Readers, FOLLOW us On WHATSAPP>> https://chat.whatsapp.com/DN0y4bGIbVI4II6aNcPssb
Join Other Great Readers On TELEGRAM>> https://t.me/freshreporters
For Advert and other info, Click this link to send a Message to the Admin https://freshreporters.com/advertise/