OPay unveils Nightguard feature to combat rising financial fraud

Joy Agwunobi

OPay, a prominent player in the financial technology sector, has launched Nightguard, an innovative feature aimed at strengthening the security of customers’ funds. This comes as the financial sector struggles with a significant rise in financial fraud, with the company aiming to provide a more robust protection solution that goes beyond traditional security methods.

Over time, financial institutions have relied heavily on two-factor authentication, short USSD codes, and one-time passwords (OTPs) to safeguard user accounts. However, with a noticeable increase  in illicit financial activities, these conventional measures have proven insufficient. OPay is now at the forefront of addressing this challenge with Nightguard, a feature designed to provide an unprecedented level of security.

The Nightguard feature allows users to set a security window from 11:00 pm to 7:00 am, during which any attempt to transfer funds requires enhanced identity verification, including facial recognition. This means that transactions made within this timeframe will undergo additional security checks, effectively preventing unauthorised access to accounts and providing users with enhanced peace of mind.

According to OPay, this new functionality is a first in the financial industry, designed specifically to address the vulnerabilities associated with late-night activities and other periods when users are most at risk. By enabling this time-bound security measure, Nightguard helps users feel more secure during their downtime and personal activities, such as late-night outings and social events.

Dauda Gotring, CEO of OPay Nigeria, emphasised the significance of this feature, stating, “The Nightguard feature represents a major advancement in Nigeria’s mobile payment landscape. It offers users a powerful tool to secure their financial transactions and demonstrates OPay’s commitment to placing control firmly in the hands of its customers. Our goal is to ensure that users have the means to protect their finances with confidence.”