OPay launches XtraCova to strengthen consumer trust in digital finance

OPay has launched XtraCova, a new protection product that reimburses users for verified unauthorised transactions on the platform.

The product launch reaffirms OPay’s customer-first philosophy and its ongoing effort to build trust in Nigeria’s fast-growing digital payment landscape.

XtraCova provides coverage of up to ₦5,000,000 per validated claim when funds are withdrawn from a user’s account without their knowledge or consent. The product focuses strictly on unauthorised deductions that meet established verification and reporting requirements.

Coverage applies to two primary situations. The first involves platform-side failures, including system vulnerabilities or infrastructure security breaches that allow unauthorised transactions to occur.

The second involves external criminal activity, such as phishing attacks, identity theft, malware intrusion, or unauthorised access caused by stolen devices.

Once a claim is submitted, OPay carries out a detailed verification process to determine whether the transaction was genuinely unauthorised. If the investigation confirms the claim and policy conditions are satisfied, reimbursement is provided.

Elizabeth Wang, Chief Commercial Officer of OPay, said, “Protecting our customers’ money is our highest responsibility. As a company that has served millions of Nigerians over the years, we understand that trust is the foundation of digital finance. 

“XtraCova reaffirms our commitment to continuously invest in security, comply with regulatory standards, and build solutions that truly protect our users. With this product, customers can use OPay knowing that if an unauthorised transaction happens and it is verified, we are ready to stand behind them.”

With XtraCova, OPay continues to demonstrate its leadership in consumer protection while supporting the growth of a safer and more reliable digital financial ecosystem in Nigeria.

XtraCova is available directly within the OPay mobile application. Users can access the feature by opening the OPay app and navigating to the Security Center section.