I can’t help but think of the popular phrase “awoof dey purge bele” here. It appears Nigerians are eventually purging from Opay’s awoof. The Opera owned company’s market entry strategy could easily pass as the most disruptive in recent times. It was so sensational – almost too good to be true. Nigerians were fascinated and couldn’t believe their luck, but experts saw a sad ending right from the beginning. Since yesterday Opay customers have been raising the alarm about being ripped off by the company.
The complaint has been about being charged a 2% transfer fee rather than the N10 transfer fee promised. OPay users complain that there was no notification to make them aware of the new charges. OPay apologized through its Twitter handle. It read:
“Hi Everyone, we sincerely apologise for the inconvenience we caused you by our lack of notice on the 2% bank transfer fee. We understand that this was not communicated appropriately and sincerely apologise for this.
We have now reviewed our bank transfer fees and from 6 AM tomorrow, the fee for our bank transfers will be N45 for the first transaction of the day and 1% for subsequent ones.“
The 2% transfer fee means a transfer of N10,000 for instance would cost N200. Compare this against the regular N52.50 flat rate traditional banks charge and you should be able to figure out the rest.
This should come as no surprise
Many experts have had their doubts about OPay’s business model and marketing strategy from inception. OPay pulled off the mother of all discounts, it was almost free, and that was the problem, nothing is free.
Personally, from the beginning when OPay launched the ‘chaos,’ I have always looked forward to the time when the party would be over. It was either Nigerians dumped them or stuck around because OPay had done an amazing job in convincing them to stay. It seems Nigerians have stuck around and they have been struck when they weren’t suspecting.
OPay can apologise all they want, and Nigerians can yell and sulk all they want, the bottom line is that the fintech company has recouped some of its “awoof money.” The information of the new charges weren’t communicated appropriately just as the company admitted. This means there’s room for some users who aren’t still aware to get ripped off as there aren’t any in-app notifications about it either.
Once again it was a sudden and bad move by OPay just like almost every move they have made so far has been. The risk is losing their loyal customers. But then, I’m sure they be like “it’s Nigeria na, we will just do another awoof.” Yes, they truly can (as long as they can afford it) and yes, people will fall for it again.