OPay offers two primary ways to get involved with its financial services platform: as an aggregator or as an agent. Aggregators are business entities that partner with OPay to offer payment processing services to merchants, while agents are individuals who perform financial transactions on behalf of OPay.
This guide will walk you through the steps required to become an Opay aggregator and agent, including the registration process, necessary documents, and tips for growing your business.
Whether you’re looking to start a new business or add a new revenue stream to your existing one, this guide has everything you need to get started on your journey to becoming an Opay aggregator and agent.
Who is An Opay Aggregator?
Opay aggregators and agents are authorized individuals or business entities that play a crucial role in expanding the reach of the Opay mobile payment platform to customers who may not have easy access to traditional financial services. As an Opay aggregator or agent, you can provide a range of financial services to customers, including:
- Money transfers: You can help customers transfer money to other Opay users or bank accounts.
- Bill payments: You can assist customers in paying their bills, such as utility bills, cable TV subscriptions, and airtime top-ups.
- Goods and services purchase: You can help customers purchase goods and services from Opay partners, such as e-commerce websites, food delivery services, and ride-hailing apps.
- Cash deposits and withdrawals: You can assist customers in depositing or withdrawing cash from their Opay wallets.
- Loan applications: You can help customers apply for loans from Opay partners.
As an Opay aggregator or agent, you can earn commissions on transactions made by your customers, making it a potentially lucrative business opportunity.
How To Become An Opay Aggregator
To become an Opay aggregator, you need to follow these steps:
- Visit the Opay website and navigate to the Aggregator section.
- Fill out the Aggregator application form with your business details, such as your company name, contact information, and business registration details.
- Provide your first name, surname, middle name, active email address, active phone number, BVN, state of residence, the local government of residence, and a valid ID card (this could be a national ID card, voter’s card, driver’s license, or international passport).
- Upload a picture of your shop, as well as a utility bill that is not older than 6 months as part of the requirement.
- Once your application is reviewed and approved, you will receive access to Opay’s payment infrastructure and tools to carry out payment processing for merchants.
Becoming an Opay aggregator requires some basic documentation and verification of your business details, but it can provide a low-cost business opportunity with the potential for high returns. As an Opay aggregator, you can earn commissions on every transaction made by your agents and customers, making it a potentially lucrative business opportunity.
How To Become An Opay Agent
Becoming an Opay agent involves a series of steps that are simple yet significant. To begin, you need to download the Opay mobile app from the Play Store or apple store. Alternatively, you can visit the official Opay website to create an account. Once you have created an account, you can proceed to fill out the Agent application form with your personal details, including your name, contact information, and address.
After filling out the application form, you will need to attend the Opay agent training and certification program. This program is crucial as it equips you with the necessary knowledge and skills to use Opay’s payment infrastructure and perform financial transactions. It is essential to take the training seriously as it will prepare you adequately for the demands of the job.
Upon successful completion of the training and certification process, you will receive the necessary permissions and tools to perform financial transactions on behalf of Opay. As an Opay agent, you can offer a range of financial services to customers, including money transfers, bill payments, and cash deposits and withdrawals. Through these services, you can expand the reach of the Opay platform to customers who may not have easy access to traditional financial services.
Benefits Of Being An Opay Aggregator Or Agent
As an Opay aggregator or agent, there are several benefits you can enjoy. Here are some of them:
- Low start-up cost: Becoming an Opay aggregator or agent requires minimal investment, making it an affordable business opportunity.
- Flexibility: As an Opay aggregator or agent, you can choose to work full-time or part-time, depending on your availability and schedule.
- Additional income stream: You can earn commissions on every transaction made by your customers, providing you with an additional income stream.
- Convenient payment processing: Opay provides a payment infrastructure that is fast, secure, and convenient, allowing you to process payments quickly and efficiently.
- Range of financial services: As an Opay aggregator or agent, you can offer a range of financial services, including money transfers, bill payments, and cash deposits and withdrawals, expanding the reach of the Opay platform to customers who may not have easy access to traditional financial services.
- Training and support: Opay provides training and support to its aggregators and agents, ensuring that they have the necessary knowledge and skills to perform their job effectively.
- Contributing to financial inclusion: As an Opay aggregator or agent, you can contribute to financial inclusion by providing financial services to individuals and communities who may not have easy access to traditional financial services.
What is an aggregator in OPay?
An aggregator in OPay is a business entity that partners with OPay to offer payment processing services to merchants. Aggregators use OPay’s payment infrastructure to facilitate transactions and receive commissions on every transaction made by their merchants.
How much does it cost to become an OPay agent?
Becoming an OPay agent requires minimal investment and does not involve any registration fees. However, agents are required to have a working capital of at least ₦20,000 to provide adequate liquidity for their transactions.
How much is the highest amount OPay can receive?
The maximum amount OPay can receive per transaction depends on the specific service being used. For instance, the maximum amount for cash deposits is ₦500,000, while the maximum amount for transfers to bank accounts is ₦1,000,000.
What is the full name of OPay?
OPay is an acronym that stands for Opera Pay.
Which country owns OPay?
OPay is owned by Opera Limited, a Norwegian company that specializes in web browsers, mobile advertising, and fintech services.
Which bank controls OPay?
OPay is not controlled by any bank. However, it partners with several banks to provide financial services to its customers.
In conclusion, becoming an OPay aggregator or agent is a great opportunity for individuals or businesses looking to participate in the fintech industry in Nigeria. The process to become an aggregator or agent is straightforward, with clear guidelines on the required steps.
OPay’s payment infrastructure is fast, secure, and convenient, and it offers a wide range of financial services to its customers, including money transfers, bill payments, and cash deposits and withdrawals. By becoming an OPay aggregator or agent, individuals and businesses can contribute to financial inclusion efforts by providing access to financial services to underserved communities.