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- You can receive money from abroad through your OPay wallet
- It is faster and reliable
The Central Bank of Nigeria (CBN) has certified OPay to begin International Money Transfer in Nigeria.
Significance of OPay International Money Transfer approval:
- It means that OPay will begin to facilitating remittance B2B, B2P and P2P remittance services into Nigeria.
- It will be easier for global remittance companies to partner with OPay to help their customers to receive money from their business partners
- It will be faster for global remittance companies to partner with OPay to help their customers to receive money from their business partners from any part of the World.
- Residents in Nigeria will be able to receive money from their loved ones in abroad directly into their OPay wallet.
- Nigerians will be able to easily cash out their funds from their OPay wallets at any of over OPay mobile money agents in Nigeria.
OPay has over 100, 000 mobile agents spread across the country, it that isn’t the highest, it would be among the top 5.
OPay is owned by Opera Inc, the developer of Opera web browser and Opera mini.
TechCabal quoted the Director of Remittances Services at OPay Kunle Olamuyiwa as saying, “The plan is to distort the remittance space and ensure that international money transfer into Nigeria is safer, faster and more affordable.”
Mr. Kunle disclosed that the company is working with major global remittance companies around the world.
According to him, “We will start facilitating remittances to Nigeria with these partners, ensuring the best fees and exchange rates, speed and security.”
The OPay Director of Remittances Services said his company will roll out a big-bang promo in December with lots of prices for recipients of money transfer “who receive their money directly into their OPay wallets.”
OPay International Money Transfer Account Setup
- Step 1: Download OPay App from Google PlayStore
- Step 2: Setup your mobile wallet account
- Step 3: Fill in your details correctly
- Step 4: Verify your identity
Your phone number is your account number without the first digit.
Kunle said, “I can only advise everyone who has families around the world to get an OPay Wallet.
“They will get better value for these funds doing transfers to any bank, paying their bills, buying food and also using our on-demand transport services”
At the time of putting this post together, OPay has the following services on its App:
- OPay Wallet to buy card, data, settle bills etc
- Okash (online loan)
- Owealth (Investment platform)
With this licence, OPay has now joined other CBN-certified International Money Transfer Operators in Nigeria.
We’ll keep you updated when the promo begins in December 2019.