OPay Tightens Security Measures, Removes Bank Account Verification Feature to Counter Identity Loopholes

OPay, the digital banking platform boasting over 40 million registered users, has strategically eliminated its bank account verification feature.

This move follows revelations of a technical glitch that enabled users to exploit the system, posing a risk of unauthorized account creation using other people’s identities, including those of celebrities.

The now-removed identification method, designed to streamline the verification of Bank Verification Numbers (BVN), had inadvertently created a vulnerability.

OPay clarified that the bank account verification was initially introduced to facilitate a more convenient authentication of BVN, particularly in cases where users may have forgotten their BVN.

The process involved biometric validation, cross-referencing the user’s face with the BVN database, and an OTP (One-Time Password) verification to ensure authenticity.

OPay emphasized its commitment to aligning with the Central Bank of Nigeria’s (CBN) guidelines, particularly the recent mandate for BVN/NIN verification for Tier 1 users.

The company addressed the observed technical glitch, emphasizing that it was exploited in a way that compromised security.

With the removal of the bank account verification feature, OPay aims to bolster its security measures and uphold the integrity of its user authentication processes.