Opay Grows Its Gross Transaction Value 4.5 Times Over $2 Billion In Defiance Of Covid-19

OPay, a leading mobile payment, and financial service company has grown its total gross transaction value on its platform by 4.5 times to over $2 billion in December 2020, despite the COVID-19 throes. This revelation was made by Joshua Yau, the managing Vice President of OPay in Nigeria acting as the major spokesman for the  Senior Executive Team at a Press Conference in Lagos. He pointed out that this feat was achieved during the global pandemic and lockdown that incited global uncertainty. According to Mr. Yau, OPay has had its most impactful year yet in 2020.

The Country Manager of Opay, Mr. Iniabasi Akpan provided insights at the conference by reviewing the company's operation and performance in 2020. According to him, the company provided Nigerians with valuable access to cash. All mobile wallets contain more than 2million wallets with balances amounting to over $17 million. Mr. Akpan at the press conference disclosed that OPay has had an engaging interaction with Nigerians which has resulted in the creation of jobs.

OPay in recent time has grown its micro-merchants and agents to more than 300,000 with 5 million registered users. At the end of 2020, all  Point of Sale (P.O.S) terminals deployed by OPay's mobile money agents and merchant networks represented approximately ⅕ of offline payments in Nigeria. According to him, these OPay agents provide financial services to the unbanked population and those located in the outskirts or rural areas, places far from bank branches and ATMs.

The Community Manager stated that it is intent on pushing its digital wallet adoption within the country. This is to provide easy access to more than ten million Nigerians across the country. Mr. Akpan clarified that OPay is a payments fintech and not the preconceived ride-hailing company which is a result of the bra and being used by the ride-hailing section of the company, before it's shut down in June 2020.