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How old is OPay

Financial Inclusion in Nigeria

In the bustling landscape of Nigeria’s tech industry, one name resonates louder than most—OPay. From its inception, OPay has surged forward, transcending boundaries and reshaping the contours of digital commerce in Nigeria. In a narrative that intertwines innovation, ambition, and foresight, OPay emerges not just as a service provider but as a catalyst for change.

Genesis of OPay

The saga of OPay begins not in the glimmer of recent memory but in the depths of history. While the masses caught wind of OPay’s presence in June 2019, when it launched its bike-hailing service with an unprecedented ₦100 promotion, the company’s roots delve much deeper. The seeds of OPay were sown in 2010 within the confines of PayCom Nigeria Limited, a mobile money platform incubated by Telnet (Nigeria) Limited.

After a seven-year journey of evolution, the tale took an intriguing turn when Opera expressed interest in acquiring PayCom in 2017. Formalizing their intentions in 2018, Opera birthed OPay in August of the same year. Thus, the behemoth that has since permeated every crevice of Nigeria’s startup ecosystem is, in essence, barely a year old.

The Opera Group

OPay records $2 billion in total gross transaction value in 2020, shares  exciting growth plans for 2021

To comprehend the essence of OPay, one must delve into the corridors of its parentage—the Opera Group. Nestled within the conglomerate’s embrace lies Opera AS Norway, the progenitor of the famed Opera web browser, Opera News, and Opera Ads. Opera’s foray into Africa traces back to 2006 with the advent of its Opera Mini mobile browser, marking the inception of a transformative journey.

Underpinning Opera’s vision lies a commitment to foster an open, interconnected world through technology. With a market share of 48.29% in Nigeria’s mobile browser arena and a robust presence across the African continent, Opera stands as a harbinger of digital inclusion. Bolstered by a $100 million investment earmarked for Africa’s internet ecosystem in 2017, Opera embarked on a mission to dismantle barriers to online access, catalyzing the transition of millions into the digital realm.

The Birth of a Nigerian Super App: OPay’s

At the heart of OPay’s narrative lies a steadfast commitment to financial inclusion, a beacon guiding its transformative journey. Emerging from the cocoon of PayCom, OPay ventured forth into uncharted territory, heralding a new era of digital commerce in Nigeria. With the agent business as its cornerstone, OPay laid the groundwork for its expansive repertoire, culminating in the launch of ORide in June 2019.

The meteoric rise of ORide, however, epitomizes OPay’s prowess in navigating Nigeria’s dynamic landscape. As the wheels of progress churned, OPay unfurled a tapestry of services—OTrike, OBus, OFood, OKash, and OWealth—each a testament to its unwavering commitment to innovation. Bolstered by a network of government-approved bikes, comprehensive training programs, and insurance provisions, OPay’s foray into transportation and beyond underscores its holistic approach to service delivery.

OPay’s Vision for Tomorrow

As OPay charts its trajectory amidst Nigeria’s burgeoning digital ecosystem, its vision remains resolute—driving financial inclusion and empowering the masses. Armed with a recent infusion of $50 million in funding, OPay stands poised to realize its dual mandate of providing a robust payment platform and a plethora of accessible services.

In the labyrinthine maze of Nigeria’s financial landscape, where millions languish in the shadow of exclusion, OPay emerges as a beacon of hope. With an unwavering commitment to innovation, a penchant for disruption, and a steadfast resolve, OPay continues to rewrite the narrative of financial inclusion in Nigeria—one transaction at a time.

In summation, OPay’s journey from obscurity to prominence mirrors the transformative potential of innovation in the digital age. As Nigeria traverses the corridors of progress, OPay stands as a testament to the indomitable spirit of entrepreneurship and the boundless possibilities that lie ahead. The current digital age is 6years as of this year 2024. OPay Nigeria was founded in 2018 and has grown tremendously to become a household name for Nigerians with over 40 million users, 500,000 agents, and 300,000 merchants who trust and use OPay for everyday payments and collections.

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