Opay History: When Was Opay Founded and What's Next

Opay's journey began in 2012, when it was founded by Idowu, a Nigerian entrepreneur.

The company initially focused on providing financial services to individuals and businesses in Nigeria.

In the early days, Opay's primary goal was to become a leading digital payments platform in Africa.

Opay's innovative approach to financial services quickly gained traction, and it began to expand its services to other countries in the region.

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OPay was founded in 2013 by Zhou Yahui and Djxbazz in Ikeja, Lagos State, Nigeria. It was initially known as Paycom Nigeria Limited. OPay's roots date back to 2009 when Telnet Group received a mobile payment license from the Central Bank of Nigeria.

Telnet Group was founded in 1985 and was one of the few non-bank and non-telecom organizations to receive this license. The company had already been developing the tech architecture for what would become Paycom, a payment service designed to operate on any bank and network.

Opay's evolution began in 2010 when it was founded as a company by the name of Opay, and it initially focused on providing mobile payment solutions.

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OPay was founded in 2018 by a group of entrepreneurs with a vision to revolutionize the way people manage their money.

The company quickly gained traction in the market with its innovative financial services. Its early success was a testament to the founders' dedication and hard work.

Here's a brief overview of OPay's ownership history:

OPay's ownership landscape continues to evolve as it navigates the ever-changing landscape of the fintech sector.

OPay was founded in 2010 as a company by the name of Opay, which initially focused on providing mobile payment solutions to meet Nigeria's growing demand for digital transactions.

The company was founded by Telnet Group after receiving a mobile payment license from the Central Bank of Nigeria (CBN) in 2009.

Telnet had already been developing the tech architecture for what would become Paycom, a payment service designed to operate on any bank and network, prior to obtaining the license.

Paycom's team, led by experienced professionals like Adewale Adetugbo, Tola Obigbesan, and Folorunsho Aliu, among others, had been with Telnet since its early days and played key roles in pioneering innovations in Nigeria's financial services industry.

One of their notable achievements was developing encrypted USSD transfers, which significantly enhanced transaction security by making it difficult for criminals to intercept and comprehend the information being transferred.

In 2018, Opay was acquired by Opera, which marked the beginning of the company's evolution into a complete super app.

Opay offers a wide range of services, including transportation, quick loans, and food delivery services, in addition to mobile payments.

Here are some key dates in Opay's history:

In 2021, Opay received an international funding led by SoftBank, which helped the company extend its services to Egypt and issue prepaid cards.

In 2022, Opay partnered with Verve International to roll out its instant debit card service.

Today, Opay is one of the four major fintech companies in Nigeria, offering a wide range of services to its customers.

OPay was founded in 2012 by Bolé Tinubu, a Nigerian entrepreneur. OPay is a digital payment platform that offers a range of financial services to its users.

OPay offers a mobile wallet service that allows users to store, send, and receive money digitally. This service is widely used in Nigeria, where cash transactions are still common.

OPay has partnered with several banks in Nigeria to provide its users with access to banking services. This partnership has made it easier for users to deposit and withdraw money from their accounts.

OPay's mobile wallet service allows users to make payments at merchants who accept OPay as a form of payment. This has made it easier for users to make payments without the need for cash.

OPay charges a fee for its services, which varies depending on the type of transaction being made. This fee is typically a percentage of the transaction amount.

OPay has a large user base in Nigeria, with millions of users registered on the platform.

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Paycom Acquisition: Paycom to acquire HR and payroll software company, WorkforceLogic, in 2016. This marked a significant expansion of Paycom's capabilities.

Paycom's acquisition of WorkforceLogic allowed it to offer a more comprehensive suite of HR and payroll solutions to its customers. Paycom's platform now included time and attendance tracking, performance management, and benefits administration.

Paycom continued to grow and expand its services, and in 2019, it acquired HR and payroll software company, HR Smart. This acquisition further solidified Paycom's position as a leading provider of HR and payroll solutions.

Paycom's acquisition of HR Smart added new features and capabilities to its platform, including recruitment management and onboarding tools.