OPay is a leading easy Banking and Payment solutions provider in Nigeria. The service was launched in 2018 by Opera Norway AS Group the developers of the popular Opera mini web browser. It is a mobile payment platform that allows its users to pay for goods and services electronically as well as save money using a mobile phone.
OPay is a mobile service that offers you a lot. Like we really mean a great deal of services to choose from. This is the reason why it is now used widely in Nigeria and a couple of other countries in Africa.
With the app, you can recharge your phone or pay your electricity bills in a jiffy without stressing yourself to go out to buy airtime or energy credit. Just download the OPay App on the Google Play store and start making seamless payment right there in the app.
You need to fund your e-wallet so that it can be used when the need arises. Once you fund your wallet, you can buy airtime, buy data, recharge your DSTV, GOTV, or Startimes, transfer money from your OPay account to another person’s account on the app.
You can transfer to other OPay users as well as to an Bank account in Nigeria and the money will be in their account in minutes. The transfer charge is low with OPay offering three free transfers per day and ₦10 per transfer for subsequent transfers for the day.
You don’t even need the app or a smartphone to conduct transactions with OPay as the platform supports USSD banking and payment. This means with just a basic phone, even the ones without support for internet, you can pay your bills and transfer money to family, friends, clients, and suppliers. Just dial *955# on your phone to proceed.
OPay is a fullfledged bank in Nigeria and as such has a savings solution called OWealth and an instant loan solution called OKash.
In this article, you will find everything you need to know about OPay. We will discuss among other things how to download the app to open an account and the payment, banking, and savings services available on the app.
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What is OPay?
OPay is a banking, savings, and payment platform available in Nigeria and a few other countries in Africa, Asia, and Latin America. The service enables you pay your bills, conduct money transfers, save money at attractive interest rates, and get instant loans without collateral.
OPay was founded by Opera Norway AS Group makers of the popular Opera browser. It was launched in August 2018, after Opera acquired Paycom.
So, Opera company founded the payment wallet. Perhaps that is where their name is coined from? Maybe OPay means Opera Payment or Opera Pay.
How to Download OPay App
To Download the OPay app, just visit the Google Play Store and search for OPay. The App is only available on Android. You can download the app at the Google Play Store. The app supports Android phones running Android 5.0 and above.
This means that most cheap Android phones can support OPay. The app is also supported on iOS devices (i.e. iPhones and iPads).
How to Sign Up an OPay Account
Here is a step by step guide on how to open an OPay account:
- Download the OPay app: Go to Google Play Store for Android users or Apple App Store for iOS users and search for “OPay.” Download and install the app on your device. Use this link to download and get up to ₦1200 bonus.
- Launch the App: Locate the app icon on your Apps menu and tap on it to launch the app.
- Create an account: Tap on “Sign Up” on the apps home screen to begin the account creation process.
- Enter your Personal Information: Provide the required details, including your full name, phone number, and email address. Make sure the information is accurate and up to date.
- Verify your Phone Number: To verify your phone number, you will be sent a six digit code.
- Set up a PIN: You will be prompted to set up a PIN for your account. This PIN will be used to authenticate your transactions and ensure the security of your account.
- Enter your BVN: Enter your BVN if you have one. If you do not have you can skip this requirement for now. Note that skipping the submission of BVN will limit your daily transaction limit of ₦50,000 and a maximum account balance of ₦300,000. Whenever you add your BVN, your transaction limit you will be upgraded to tier 2 with a daily transaction limit of 200,000 Naira and a maximum account balance of 500,000 Naira.
- Complete the registration: Once you have set up your PIN, you will receive a confirmation message indicating that your account registration is complete. Congratulations! You are now ready to start using OPay for your financial transactions.
How to Fund your OPay Wallet
There are a few ways to fund your OPay account depending on whether you have a bank account or not.
1. If you Have a Bank Account
If you already have a bank account, you can add funds to your OPay wallet via your bank account. There are two methods you can use.
The first method (my preferred method) is to make a transfer from your bank account using internet banking or mobile banking app or even USSD banking to your OPay account number, which is usually the phone number you used to sign up without the first zero and choose OPay Digital Services Limited as bank.
This means that if your registration phone number was 08111111111, your OPay account number to send the money to will be 8111111111. To check and confirm your OPay account number just open the app, tap on the Me icon, then tap on your name at the top of the app view. This will display your profile (My Profile), check the details on the page to see your account number.
Banks currently supporting direct transfer to OPay include GTBank, First Bank, Access Bank, Zenith Bank, UBA, Stanbic IBTC, Diamond Bank, Wema Bank, Sterling Bank, FCMB, Union Bank, and Heritage Bank.
2. If you do not have a bank account or can’t access it, or just want to fund with cash
For people without a bank account, you need to use an OPay merchant to fund your account. You give them the cash and your OPay account number and they send you the electronic value to your OPay wallet.
To find an OPay agent near you, just open the app and tap on Add Money, then tap on Cash Deposit, and finally, tap on Find nearby OPay merchants, you will get all agents near your current location with their address and even phone number.
This method can also be useful to people who have bank account, if for whatever reason you cannot access your account or it is just more convenient to fund your wallet with cash. You will not be charged any fee for depositing fund to your wallet via an agent.
How to Withdraw from your OPay Wallet
There are various ways to withdraw funds from your wallet. This depends on whether you want to withdraw cash or you want to withdraw to your bank account.
To withdraw cash you need to visit an OPay agent near you and request a withdrawal. The agent will give you their OPay number, you transfer the fund to them and they give cash less the transaction fee.
While depositing funds to OPay via agent is free, withdrawing funds comes with a transaction cost ranging from 50 Naira to 1,500 Naira.
To withdraw to bank account, just tap on To Bank, then enter your account number and bank, enter the amount you want to withdraw and tap on the Confirm button, then tap on the Pay button and enter PIN or scan fingerprint to authorize the withdrawal.
You can also withdraw with your OPay ATM card if you have one. Just visit any ATM machine near you to withdraw your OPay funds.
How to Transfer Funds to other OPay users
If you have funds in your wallet, it is very easy to transfer money to another OPay user. Tap on the To OPay icon, then enter the recipient’s phone number (their OPay Account number) and the amount you want to transfer and tap on the Confirm button. Tap on the Pay button to authorize the transfer..
What you can Do with OPay App
The OPay app is a one stop shop for all your banking, savings, and payment needs. You will find all OPay services on this page. Here are some of the things you can do on OPay:
- Buy Airtime: You can buy airtime for your mobile phone. You can also buy airtime for your friends and loved ones. MTN, Glo, 9Mobile, and Airtel are currently supported. You get cashback when you recharge on the platform.
- Buy Data: You can buy data plan for any mobile phone. MTN, Glo, Airtel, and 9Mobile are currently supported by this service. You get cashback when you buy airtime on the platform.
- Subscribe to Pay TV: You can subscribe to Satellite and Terrestrial Pay TV services like DSTV, GOTV, and Startimes.
- Pay Electricity Bill: You can now pay for Electricity. Distribution companies (Discos) currently supported include AEDC Abuja, EKEDC Eko, IBEDC Ibadan, Ikeja Electric Ikeja, KEDCO Kano, JED Plc Jos, EEDC Enugu, PHED Port Harcourt, BEDC Benin, and YEDC Yola.
- Transfer Money: You can transfer money to other OPay users or to any bank account in Nigeria.
- Pay with QR: This is a new service that will enable you pay for goods and services conveniently at physical locations and brick n mortar stores. Merchants that support OPay QR will have a sign indicating so. After shopping just scan the QR code to make payment.
- Receive Money by QR: As an OPay user you can receive money with QR. This means can send you QR code for someone to scan and send you money.
- Get a Quick Loan: Using the OKash service you can get quick short term loans without the need for collateral.
- Save Money: OWealth offers up to 15% annual rate on your investment.
- Fund your Betting Account: You can fund your betting account on OPay. Sports Betting services currently supported on OPay include iLOTBet, SportyBet, Africa365, 1xBet, NairaBet, and Bet9ja.
- Buy WAEC PIN code: You can buy WAEC result checker PIN on the platform.
- Pay School Fees: A couple of primary schools, secondary schools, universities and polytechnics have their payment portal integrated on the platform. Just open the App, tap on the More icon, then tap on the School and Exam icon to see all the schools that support payment of school fees on the platform.
- Make Payment to Government Institutions and Utilities: You can make some government taxes and levies on the platform. States like Abia, Enugu, Ondo, Plateau, Adamawa, Anambra, Ekiti, Bauchi, Imo, Kaduna, Rivers enable payment on the platform. Just open the App, tap on the More icon, then tap on the Government Payment icon to see all the states in Nigeria and government agencies and institutions that allow payment on the platform.
- Make Chinese Embassy Visa Payments: You can pay for single entry, double entry, multiple entries Visa as well as make other payment to the Chinese embassy on the platform.
Hope you find our list of OPay services useful.
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How many Agents Does OPay have Currently?
OPay was launched in August 2018, a product of the acquisition of Paycom. It has grown having over 40,000 active agents for its services. That is very huge for a payment company that operates online.
The fun part is, you also can become an OPay agent and make cool cash. It is open to every one provided that you can read, write and communicate.
You may have to provide a few credentials though but there is lot of earning potential for agents.
Now let us take a detailed look into each of the services offered on the Opera Payment Platform.
Like we mentioned earlier, it is not only just payment transactions you can do with OPay.
Opera offers a wide range of services ranging from ORide, which is a bike hailing service that you can hail from wherever you are.
They also have OTrike which is a tricycle hailing service and have OLeads which is a way of celebrating the average Nigerian hustle, then there is OWealth and so on. We will be looking at each of these services indepth.
OKash (Opera Kash or OPay Kash)
OKash came to Nigeria in 2019 but before then, the service has been operating in Kenya since 2018. OKash is a lending service from OPay that allows borrowers to borrow money and loans that are paid in short term.
How to Borrow Money from OPay
A borrower can obtain a loan from OKash within minutes. And the loans are usually to be paid back within 2 months to 3 months.
This complies with Google’s new policy for apps that lend as a service. OKash now operates not only in Kenya and Nigeria but also in India.
Although OKash has a standalone service and app, you can access your Okash service if you are in Nigeria from the OPay app straight away.
Okash has grown tremendously since its launch and they have grown…in millions of dollars in revenue within the short time it has been launched. Visit operapay.com to know more.
OWealth (Opera Wealth or OPay Wealth)
OWealth is another fantastic idea brought to fruition by OPay. The main purpose of Owealth is to provide a savings investment plan for people in Africa.
No wonder it is called O “wealth” right? OWealth allows you to invest in them and get 10% return on your investment at the end of the year. Most banks only offer 6% return on investment.
This is huge and all financially smart people are supposed to take advantage of this. Owealth is coined from Opay and wealth, when the two words are combined together.
OWealth offers this investment scheme under the licensing of Blueridge Microfinance Bank Limited. To begin using Owealth is very simple.
Just start by getting the OPay app and funding your wallet. Did you know that you can invest in Owealth’s savings investment system?
The investment plan gives investors 10% on return on investment. Most banks only use 6% interest. But you will need to fund your wallet with the amount of money you choose to invest.
Many banking institutions in Nigeria have savings investment schemes for their users. But OPay’s offer is very enticing when compared to others.
OWealth’s package is not a common feature of many banks around you. It allows you to prepare for the future in case of unpredictable happenings.
OWealth encourages people to cultivate the habit of saving. With owealth, you can invest in whatever you want and get a nice outcome. It has been easy for most people to put up with financial difficulties, thanks to OPay.
OWealth is surely a must have for banks. Most banks are now using the service and it has made work easier and faster for them.
If you are worried about customer service, no more worries because Owealth has excellent customer service which is part of the reason why they have a lot of customers currently even though they just started.
Having looked at the main services that OPay offers, let’s answer some frequently asked questions about OPay and their services, shall we?
Many people have so many questions about the OPay range of services and we hope to answer a few of them in this segment.
What is the OPay wallet?
The OPay wallet is an electronic wallet used in storing funds you can use to make payment. You can buy airtime and mobile data as well as pay for electricity bill or order food.
It is from your wallet that you pay for goods and services. You can also top up your wallet from your bank.
Why it is important to register or sign up to OPay?
OPay allows its users that have been registered only to have access to their services. This means that if you are not signed up and confirmed a user by the platform, you can’t use the app or enjoy any of their services.
It is very easy to register, just download the app , open it, and sign up ! You will see the “Register” or “Sign up” prompt once you open the app after installation.
If you have registered before , then simply login. to the app with the information you registered with.
Can you purchase mobile data and airtime with OPay?
Why not? You absolutely can just open the OPay app, look for the Recharge/Airtime icon and buy either through wallet or your card.
How to Become an OPay Agent
To become an OPay agent, just send a message on WhatsApp on +2349066722924 or you send an email to [email protected] with your request and intention. You will be provided with details on how to become an OPay agent.
The following documentation will be required: passport sized photo, Utility Bill (Proof of Address), BVN (Bank Verification Number), and an ID card. You may also require CAC registration certificate.
If you are already a user and you want to become an agent, you just have to upgrade your KYC (Know Your Customer) level.
You have to upgrade to KYC2 level, which requires your BVN, gender, date of birth and state of residence.
Once successfully upgraded to the KYC2 level, you can now upgrade to become an OPay agent.
To upgrade to an OPay agent via the app, tap on Account, then tap of your current KYC level (KYC1 or KYC2, below your name), then click on Upgrade to agent.
Other requirements include an office space where you can attend to customers and an Android Smartphone.
You are expected to know how to read and write. Communications skills is also required. Registration is free.
How to Get OPay POS
There is no special requirement for getting a free POS from OPay. Just register as an Opay agent. Once your registration is approved, Opera will monitor your transaction levels and determine if you are qualified for free OPay.
This means that getting the free OPay PoS is discretionary. Opera will monitor your transaction volumes and determine if you should get one. This monitoring process takes 4 to 6 weeks according to Opera.
Opera does not sell its PoS. If you will get it, you get it free.
How OPay started in Nigeria
OPay was launched in 2018 in Nigeria. To give OPay the initial boost it needed at launch as a new payment solution, Opera launched a couple of services that accepted OPay as their exclusive payment method. Services like bike hailing service ORide, tricycle hailing service OTrike, food delivery service OFood, bus hailing service OBus, savings solution OWealth, marketing solution OLeads, instant loan service OKash, taxi hailing service OCar, and classifieds ads site OList where launched to help boost the usage of OPay.
Of all the services launched by Opera only OPay, OWealth, and OKash are still standing and waxing stronger. The rest have been shutdown.
Another method Opera used to create buzz for the new payment solution and boost usage of its services was to offer highly discounted prices and deals. This strategy worked well as OPay and all the other Opera services became household names in cities where Opera services have been launched in Nigeria.
The strategy seems to be that as more people use these services, they will adopt OPay as their preferred payment and banking platform.
OPay seems to have the war chest to see this strategy through having raised $120 million is Series B funding in November. This is after raising $50 million in June, 2019.
Conclusion
In conclusion, with all of the information we have given you above, you should have a vivid idea of what OPay is all about. The app is intuitive and easy to use just download now and you will have no problems figuring it out.
OPay has been seen to provide services in almost all aspects you can think of, ranging from food (OFood) to savings and investments (OWealth) to transport (ORide, OTrike, OBus) and so on.
So far so good, OPay has provided customers with top-notch services. This wonderful mobile application has succeeded in gaining a good name and reputation across the globe.
You can visit their official internet address at operapay.com or simply download the OPay App from Google play store to start trying the amazing services they offer.
Get the OPay App today via my link and get up to ₦1,200 in reward as welcome bonus.
