Nigeria's digital payments sector is evolving, with a renewed focus on enhancing infrastructure, security, and innovation to ensure sustainable growth. This direction is central to the Central Bank of Nigeria's (CBN) Payment System Vision (PSV) 2028, a strategic roadmap designed to advance financial inclusion, improve interoperability, and strengthen consumer protection.

Against this backdrop, OPay has detailed how its operations and investments align with the objectives outlined in the PSV 2028 framework.

Advancing Financial Inclusion and Infrastructure

A primary goal of the CBN's PSV 2028 is to achieve approximately 95% financial inclusion by 2028. This will be accomplished through expanded mobile money adoption, agency banking, simplified onboarding processes, and improved financial literacy.

OPay notes that millions of Nigerians, especially in rural and underserved communities, still face significant barriers to accessing formal financial services due to limited banking infrastructure. To address this, OPay continues to invest in agent banking networks and mobile-first financial services, aiming to integrate more individuals and businesses into the formal financial system.

The CBN framework also places significant emphasis on strengthening payment infrastructure. This includes enhanced interoperability, real-time transaction processing, improved payment switching systems, and alignment with global standards such as ISO 20022.

OPay highlights that the reliability and scalability of payment systems are increasingly crucial as digital transaction volumes rise across the country. The company's ongoing investments in technology infrastructure are designed to ensure seamless transaction processing and support the growing demand for digital financial services.

Innovation and Cybersecurity as Growth Drivers

PSV 2028 identifies emerging technologies such as Open Banking, Artificial Intelligence (AI), digital identity systems, embedded finance, and blockchain as key drivers for future growth in Nigeria's financial services sector. OPay emphasizes that innovation should prioritize solving real customer challenges and improving access to financial services, rather than merely introducing new technologies.

The company also stresses that advancements in financial technology must be accompanied by responsible implementation and effective governance to ensure long-term sustainability.

Another critical pillar of the framework is cybersecurity, encompassing fraud prevention, data protection, regulatory compliance, and operational resilience. The CBN aims to reduce fraud losses across the payments ecosystem to below 0.0001% of transaction volumes, thereby strengthening public confidence in digital financial services.

OPay states that trust is a strong factor influencing the adoption and continued use of digital financial services. Maintaining customer confidence requires continuous investment in security systems, fraud prevention measures, customer support, and financial education.

Nigeria has emerged as one of Africa’s leading digital payments markets over the past decade, driven by rapid growth in fintech, mobile money, instant payments, and digital banking services. In May 2025, the CBN, in collaboration with the Nigeria Inter-Bank Settlement System (NIBSS), officially launched the Non-Resident Bank Verification Number (NRBVN) platform. This platform simplifies the process for Nigerians living abroad to obtain their Bank Verification Number (BVN) remotely, removing the need for in-person verification in Nigeria.