OPay, a leading digital payments platform, has introduced a new charge on electronic transfers into personal and business accounts.
This move is aimed at ensuring compliance with the Federal Inland Revenue Service (FIRS) regulations, affecting users of OPay’s services.
The N50 charges on transactions above N10,000 will take effect from September 9th.
The company clarified that the charges are requirements from the government and not a source of revenue for the payment platform.
“It is important to note that OPay does not benefit from these charges in any way as it is directed entirely to the Federal Government,” the notice read.
In a notice to its customers on Saturday, OPay stated,
“Dear valued customers, please be informed that starting September 9, 2024, a one-time fee of N50 will be applied for electronic transfer of N10,000 and above paid into your personal or business account in compliance with the Federal Inland Revenue Service regulations.”
The introduction of this fee follows the Federal government’s efforts to generate revenue from electronic transactions through FIRS regulations.
