OPay Announces Shutdown Of Some Of Its ePayment Services

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Popular mobile e-payment services, OPay has disclosed that it will be shutting down ORide, its bike hailing service; OMall, OExpress, its logistics delivery service; and OFood, its food delivery service, according to a statement released by the company.

OPay helped in donating the sum of N50 million and 100,000 medical masks to the Lagos State University Teaching Hospital in the fight against Coronavirus.

Indeed, the business world is crumbling globally as big and small companies are shutting down their business and offices/stores  and taking it online.

The statement from OPay reads: “We can confirm that some of our business units including the ride-hailing service, ORide, OCar as well as our logistics service OExpress will be put on pause. This is largely due to the harsh business conditions which have affected many Nigerian companies, including ours, due to COVID-19 pandemic, the lockdown and the government ban”.

It added, “Globally ride-sharing businesses have been heavily impacted by the pandemic. But several months ago, foreseeing this issue, OPay had already taken preemptive steps to restructure our business focus away from rides. It is worthy to note that this final restructuring has minimal impact on OPay as a whole business”.

“It is important to clarify that ride-sharing had only been one part, not a major part of OPay’s diversified business in Nigeria. In fact, OPay has been investing more and seeing accelerated growth in its commitment to Nigeria financial and technology inclusion. During the pandemic, we have seen continued demand for our offline mobile money agency and online digital payment, which remain the core of our business.”

“From January to April 2020 for example, we witnessed 44% growth of offline and online transaction value even in the midst of pandemic and lockdown. This is a testament to the high demand for flexible and easy financial services by Nigerians. OPay remains one of the most well-refunded and profitable mobile money  platforms in Nigeria, and we will continue to do more for our customers”.

It concluded, “Lastly, OPay will continue to invest in and grow in the eCommerce space, aligning its customers and business eCommerce units which will continue to operate and grow. We believe a financial platform coupled with goods’ platform will form the future of Nigeria’s technology development”. 

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