In a significant development aimed at expanding digital payment options across Nigeria, OPay has announced a strategic partnership with AfriGO Card, powered by Afrigopay Financial Services Limited (AFSL), a subsidiary of the Nigeria Inter-Bank Settlement System (NIBSS). This collaboration is set to enhance financial inclusion, reduce Nigeria’s reliance on foreign currency for payment transactions, and empower local businesses by offering secure, affordable, and innovative payment solutions.
AfriGO, Nigeria’s National Domestic Card Scheme, is designed to leverage cutting-edge technology and a customer-focused approach to revolutionize the financial landscape in Nigeria. By introducing a local payment card alternative, AfriGO seeks to foster financial inclusivity, ensure data sovereignty, and stimulate economic growth within the country’s card payment ecosystem. Through this collaboration with OPay, AfriGO aims to provide Nigerians with an accessible, efficient, and reliable payment method that is fully aligned with local economic interests.
The OPay/AfriGO partnership is expected to play a pivotal role in rapidly scaling the availability of digital payment services across Nigeria. OPay, which already serves millions of Nigerians, will now offer a powerful new product that will reach even more individuals and businesses, especially those who have limited access to traditional banking services.
Dauda Gotring, MD/CEO of OPay, stated, “Our partnership with AfriGO aligns perfectly with our goal of simplifying financial services for every Nigerian. The OPay/AfriGO card is not just a product; it’s a tool that will enable us to reach more Nigerians, particularly those who have been underserved by traditional banking services. This will provide Nigerians with a more affordable payment option, enable instant settlement of transactions, and further promote financial inclusion across the country.”
The partnership also highlights the importance of financial services accessibility in underserved regions. According to Ebehijie Momoh, the MD/CEO of Afrigopay Financial Services Ltd. (AFSL), “This collaboration will transform financial service delivery, especially in underserved areas. The expansion of agent networks will support local businesses by offering essential banking services such as deposits, withdrawals, money transfers, and purchases, which will help promote greater financial inclusion.”
A key feature of this partnership is the introduction of AfriGO’s Instant Settlement service, which enables merchants and agents to settle transactions in real time. This innovation will significantly enhance cash flow for local businesses, improve operational efficiency, and reduce transaction risks. With robust technology infrastructure and effective liquidity management, the OPay/AfriGO Card aims to offer a smooth, secure, and reliable payment experience for both consumers and businesses.
By supporting local innovation and offering solutions tailored to the Nigerian market, AfriGO and OPay are helping reshape the financial services landscape. The OPay/AfriGO card is expected to drive greater adoption of digital payments in Nigeria, giving individuals and businesses a more secure and locally relevant alternative to international payment cards.
This collaboration between OPay and AfriGO signals a new era for Nigeria’s payment systems, with the potential to influence the broader African payment ecosystem. As OPay continues to expand its services, this partnership will be crucial in shaping the future of digital payments in Nigeria, further driving financial inclusion, supporting local businesses, and creating new opportunities for Nigerians across the country.
OPay’s commitment to transforming Nigeria’s financial landscape through partnerships like this demonstrates its dedication to providing innovative and inclusive solutions that benefit all Nigerians, especially those who have traditionally been excluded from mainstream banking systems. With a focus on empowering individuals and businesses alike, OPay and AfriGO are poised to lead the way in digital financial services in Africa.
