Opay unveils ‘Large Transaction Shield’ to tackle financial fraud

Leading financial technology firm OPay has introduced its innovative Large Transaction Shield feature, designed to offer users greater control and security over their funds.

In a statement released to The PUNCH on Sunday, the company explained that the feature utilised facial recognition authentication to protect users from unauthorised transactions.

“Large Transaction Shield feature, designed to provide users with unparalleled control and protection over their funds. The Large Transaction Shield offers a comprehensive suite of benefits, including enhanced security, customization, and convenience.

“OPay users can rest assured that their funds are protected from unauthorised transactions. Additionally, the feature is designed for users to have the ability to set personalised transaction limits and tailor protection to their specific needs, providing greater control over their finances,” the firm noted.

According to OPay, the Large Transaction Shield allows users to set personalised limits for single, daily, and monthly transfers, ensuring that any large or unusual transactions exceeding these defined limits require additional verification.

It added that when a transaction surpasses the preset threshold, users must confirm their identity through facial verification.

The Chief Executive Officer of OPay, Dauda Gortring, noted that the financial institution was committed to delivering cutting-edge financial solutions that prioritise user safety and convenience.

“The Large Transaction Shield is a testament to our dedication to providing a secure and reliable platform for our customers. By requiring facial verification for large transactions, we are further strengthening our defences against potential fraud and ensuring that every payment is authorised by the rightful account holder,” Gortring said.

With this new feature, OPay underscored its leadership in the financial sector, emphasising its commitment to innovation and user protection.