OPay Launches XtraCova to Safeguard Customer Funds

OPay has introduced XtraCova, a new product aimed at safeguarding customers from unauthorized transactions. The product allows for reimbursement of up to 5 million Naira per valid claim when funds are debited from an OPay account without the account holder's knowledge or consent.

This launch underscores OPay's dedication to operational compliance with Nigeria's financial regulations and its commitment to prioritizing customer safety in digital financial services. XtraCova addresses two key situations: when there is a failure in the security system leading to unauthorized transactions and when users fall victim to criminal activities such as identity theft or phishing attacks.

Elizabeth Wang, Chief Commercial Officer at OPay, stated that the company aims to protect customer funds and strengthen trust in digital financial services. XtraCova is accessible directly within the OPay mobile application, allowing users to navigate to the security center for more information.