In a significant financial milestone, OPay, a key player in the Fintech industry specializing in emerging markets, has announced achieving its first-ever monthly profitability. This comes alongside an impressive surge in its user base, with the number of daily active trading users nearing the 10 million mark. Founded in 2019, OPay has quickly risen to prominence by offering advanced payment solutions and digital wallet services, primarily catering to users in Africa and Asia.

Using AI and big data, OPay has transformed traditional financial services by integrating its technological innovations into local financial ecosystems. This approach has been particularly effective in regions such as Nigeria, Egypt, and Pakistan, where many are underserved by conventional banking systems.

The success of OPay is reflected not only in its profitability but also in the scale of its operations which now extend to over 50 million users and 1 million merchants. The company’s transaction volumes per month have soared to more than $12 billion. This extensive reach is complemented by OPay’s creation of around 400,000 direct and indirect job opportunities, showcasing its substantial impact on local economies.

The global financial landscape, especially in emerging markets, presents fertile ground for the growth of Fintech services. A joint report by BCG and QED Investors pointed out that Fintech revenues are expected to experience a sixfold increase by 2030, suggesting a bright future ahead for companies like OPay. Africa, in particular, is predicted to witness a 32% compound annual growth rate in Fintech revenues, marking it as one of the fastest-growing regions globally.

OPay’s achievements have garnered considerable international media attention, with coverage in major outlets like Forbes and CNN which hailed the company as a transformative force in Africa’s financial services sector. Further cementing its esteemed reputation, OPay was included in the CB Insights Global Fintech 250 for three consecutive years and was recognized by CNBC in its Global Fintech 200 list.

OPay’s strategic partnerships have also played a crucial part in its expansion and influence. A notable collaboration came in May 2022 when OPay partnered with Mastercard, significantly enhancing digital commerce prospects for millions across the Middle East and Africa. This alliance notably supports greater financial inclusion and promotes economic growth and development in these regions.

The leadership at OPay, represented by Chairman Yahui Zhou, remains committed to its mission of expanding financial inclusion through technology. Zhou emphasized the company’s focus on crucial aspects like security, data analytics, monetization, and compliance. Looking forward, OPay aspires to serve 1 billion users and 10 million merchants and create 3 million job opportunities by 2031, highlighting its ambitious vision for the future.

As OPay continues to expand its services and enter new markets, it stands as a testament to how innovative financial technology can foster more inclusive financial environments and contribute significantly to local and regional economic development.