We are excited to introduce a new, easier and innovative way for users to perform cash withdrawals from our merchants. OPay has a network of over 350,000 merchants nationwide which translate to having an in every neighbourhood. It makes it easier for customers to make withdrawals, pay bills and perform transactions on the go.

At OPay, we work closely with our merchants to ensure that everyone, despite any circumstance, has access to financial services. Hence, why we have introduced the OPay USSD Withdrawal service, this service makes it easy for individuals with little or no access to smartphones, the internet and debit cards to access financial services and make payments.

As a merchant, there will be unforeseen instances where your customers will need to withdraw cash at short notice, experience bank card issues or even forget/misplace their debit cards. The OPay USSD withdrawal feature will come to the rescue as an alternative means of performing transactions.

To use the OPay USSD withdrawal feature, select the USSD withdrawal option on your OPay POS terminal and input the amount the customer needs to withdraw. Retrieve the reference code for the initiated transaction and share it with the customer. The customer dials the USSD short code for their preferred bank on their mobile phones and inputs the reference code generated from the POS terminal to complete the transaction.

But that’s not all there is to it.

Here is all you need to know about this new feature;

The fundamentals, what it is and how it works.

USSD codes, unstructured supplementary service data (USSD) is a communication protocol available on GSM cellular networks to relay messages to the service provider’s computers. The USSD code is a service that allows you to perform transactions from the convenience of your phone without the use of the internet.

What are the limits of the USSD transaction? The USSD fund transfer channel allows transaction of up to 200,000 daily, depending on the customer’s Bank. The transaction can only be done using the mobile number registered to the user’s bank account. See below, transaction limit for each of the 17 banks OPay USSD withdrawal service supports.

How many banks does it support?

The OPay USSD withdrawal service allows transfers to 17 Nigerian banks.

Is this Service Secure?

The service is a safe, convenient and secure platform for transactions. Your customer will need to input his/her PIN to perform transaction. The authentication protocol helps to quell security concerns. The USSD withdrawal service can only be made on a mobile number registered with their preferred bank.