Opay introduces feature to safeguard funds. 2 other stories and a trivia

This line-up of stories will help you discover the latest happenings around the tech world, today.

1. Opay introduces feature to safeguard funds

Digital financial services platform, Opay, has announced enhancing its security feature to ensure the robust protection of users’ funds.

Confirming the development in an official statement seen by Ripples Nigeria on Tuesday, January 30th, 2024, Opay’s Managing Director, Mr. Dauda Gotring, revealed that the new security feature comes as a short code.

According to Goring, the newly implemented feature is a customised short code that allows users to promptly lock their accounts in case of a misplaced or stolen phone or card.

He explained: “To activate this security measure, users simply dial #955*131# to lock their account and #955*132# to instantly secure their card, providing a seamless solution.”

“Adding another layer of protection, OPay’s advanced fraud detection system actively monitors for suspicious activity. If a potential scam is identified, the system triggers an immediate double-confirmation alert before any transaction occurs.”

Ripples Nigeria gathered that Opay’s deposits are protected by the Nigeria Deposit Insurance Corporation (NDIC), which offers the same level of insurance coverage as traditional banks.

The introduction of the new short code serves as dual-layered security approach of protection shield, to further ensure users’ financial safety.

The latest development followed Opay’s recent strategic partnership with Interswitch that aimed at further enhancing payment experience for its users.

Trivia: A small section of source code may also be called what?

A. Snapshot
B. Speck
C. Snippet
D. Smidgen
Find answer below

2. Egypt’s Paymo partners Mastercard to boost digital payments

In a move to enhance digital payment acceptance in the Middle East, North Africa, and Pakistan (MENA-P), financial services facilitator, Paymob, has entered into a partnership with Mastercard.

The Co-founder and CEO, Islam Shawky, confirmed the alliance in a statement seen by Ripples Nigeria on Tuesday, January 30th, 2024.

The collaboration, according to the CEO, aims at expediting the implementation of Tap on Phone, e-commerce gateway, and payment link solutions.

Ripples Nigeria gathered that the new partnership will help the duo focus on low-cost alternatives to accelerate digital transaction acceptance among smaller businesses and overlooked use cases.

While the partnership aligns with Mastercard’s global initiative to digitize 50 million small businesses by 2025, it also underscores Paymob’s commitment to fostering the growth of Micro, Small, and Medium-sized Enterprises (MSMEs) in the digital economy.

Islam Shawky said: “This strategic partnership with Mastercard delivers on Paymob’s mission to fuel MSMEs via access to cutting-edge financial solutions. Our joint acceleration of low-cost digital acceptance solutions will lead to greater adoption of digital payments across the region.”

The partnership follows Paymob’s rapid expansion in the MENA region, driven by a successful Series B funding round of $50 million secured in 2022.

3. SA based OfferZen secures $4.3M funding

The South African developer hiring marketplace, OfferZen, has secured a EUR4 million (US$4.3 million) funding round, with prominent investors Invenfin and AI Capital contributing to the financial boost.

The Co-founder, Philip Joubert, stated this in a statement seen by Ripples Nigeria on Tuesday, January 30, 2024.

Founded in 2015 and officially launched in 2016, OfferZen focuses on enhancing company efficiency by streamlining the hiring process.

Through its platform, it connects curated, actively job-seeking developers with over 2,000 companies in South Africa and beyond.

The new funding follows a US$5.1 million funding round in 2021.

Speaking on the development, Philip Joubert stated: “Securing this funding from investors who share our long-term vision is a testament to our team’s hard work.

“We couldn’t be more excited to partner with investors that bring so much experience. Their support and capital investment will help us make a lot of product improvements over the coming months.”

Trivia Answer: Snippet

A snippet is a small section of text or source code that can be inserted into the code of a program or Web page. Snippets provide an easy way to implement commonly used code or functions into a larger section of code.

Instead of rewriting the same code over and over again, a programmer can save the code as a snippet and simply drag and drop the snippet wherever it is needed. By using snippets, programmers and Web developers can also organize common code sections into categories, creating a cleaner development environment.

Join the conversation

Opinions

Support Ripples Nigeria, hold up solutions journalism

Balanced, fearless journalism driven by data comes at huge financial costs.

As a media platform, we hold leadership accountable and will not trade the right to press freedom and free speech for a piece of cake.

If you like what we do, and are ready to uphold solutions journalism, kindly donate to the Ripples Nigeria cause.

Your support would help to ensure that citizens and institutions continue to have free access to credible and reliable information for societal development.

Donate Now