Opay Card: After several years of quieted business as a payment company, the platform offers an optimally social-inclusive debit card.
The development is not entirely recent, having booted in the last quarter of 2021, following a series of events overseen by the Opay Vice President, Oladipo Omogbenigun.
Despite the Nigerian financial ecosystem targeting mainstream companies, Opay takes the wheels of commerce to the doorsteps of business owners on the fringe of FinTech.
You do not have to worry about sorting various necessary papers or securing recommendations from different facilitators to get Opay services. The company makes it easy for you to access their products (mostly financial solutions).
Keeping to form, the Opay Card is another attempt to coopt a point of service aid in the financial inclusion catalog. Still, providing a loan instrument is not all the payment solutions offered by Opay.
Besides the debit card, the company has a CreditMe platform underway, doubling as a tour de force to reach out to online enterprises in the Nigerian market sketch.
Also, the string of offers is unrestricted to sourcing out FinTech solutions and keying up to developments in the field. It takes strategies beyond the local purview to probe collaborations with banks, international money transmitters, and financial regulators.
Learn more about the company, its card, and other Opay products in this article. Read on below for details.
Opay Card: The Roadmap, About Opay
You can describe the company in two words: Payment Company.
However, there seems to be more to it than merely facilitating payments, with complete structures (including admin and tech teams) to tackle the intricacies of urban finance. Here is how the company describes its operations on the website.
We are more than a payment company. We believe everyone should be able to enjoy financial and social inclusion (sic), without regard for physical borders, boundaries, or even social status.
And that is not all. The card is now a must-have for many owners running groceries. Opay helps you pay for your utilities and receive payments via their payment platform.
As to why the company undertakes a project targeting disadvantaged entities or less exposed persons in Nigeria, Opay maintains that everyone deserves a fair shot.
Over 60% of people in Africa remain unbanked and can’t access the most basic financial services to invest in their education and businesses, which limits their full potential. Nobody should be denied access to participate in the world economy because of their circumstances or background.
As a spur, Opay waives the fees accruing on three (3) bank transfers by customers. However, further transfers attract fifteen (15) naira.
When was the Opay Card Launched?
The Opay debit card launched in July 2021, its legal coverage being a rider on Opay Services Limited licenses from the Central Bank of Nigeria (CBN).
Why Do I need the Card?
Often, many people wonder if a payment card isn’t extra luggage, given that Banks already issue a similar product. Although this argument seems true for the most part, it does not account for the benefits non-bank debit/credit cards have over typical ATM cards.
- For one, Opay gives cashback as long as you do not terminate your subscription (or patronage).
- Moreover, you can do the following with the Opay Card (a debit card, by the way).
- Access payment stations/units like Point of Service (POS), WEB, and ATMs
- It helps the average SME and business enterprise to run the transaction in the local currency (Naira).
- You do not incur any legal actions from the provider for misplacing the card.
- Non-renewable cashback lasting the span of the Opay Card owner’s subscription
- Zero fees maintenance
Besides the above offers, you get more offers and redeemable coupons from the company.
So, how do I get the card?
If you wish to get a debit card, see the following section for details.
How to Get the Card
Note that you will have to download and sign-up on the Opay Debit Card app before filling out the procedure for acquiring it. Subsequently, you can follow the steps below to get the product.
(Alternatively, you can sign up on the website before accessing the app)
- Install the app into your smartphone.
- Then log in to your account.
- Open your profile section (marked as ME on the website).
- Go through the options and select Request for Opay Debit Card.
- Indicate a location where you will receive the card
- Ensure you provide further details required by the on-screen prompt.
- Moreover, you will have to deposit six hundred (600) naira as the cost of the Opay debit card.
Opay offers a referral option for card users, allowing them to get bonuses and other promos while using the product at typical rates.