EBANX has introduced recurring payments through OPay, a digital bank in Nigeria.

Known as OPay Direct Debit, the service allows global subscription businesses, such as streaming and software providers, to collect payments from OPay wallet users without cards.

OPay has 40 million monthly active users, about one in three Nigerian adults, according to the companies.

These users can already make purchases through the digital wallet and by bank transfer.

With the new service, they give a one-time approval in the OPay app, after which merchants can collect future subscription charges without customers re-entering their payment details.

“With OPay Direct Debit, customers can enjoy a simple payment experience while staying in control of their subscriptions,”

said Elizabeth Wang, Chief Commercial Officer at OPay.

“With one of the continent’s highest mobile penetration rates and a young, fast-growing population, Nigeria is expected to remain Africa’s largest and most strategic digital market over the next decade,”

said Eduardo de Abreu, Chief Product Officer at EBANX.

The launch follows a similar EBANX project in South Africa, where Canva began offering recurring payments through Capitec Pay’s account-to-account service.

Including these two countries, EBANX now offers recurring alternative payment methods in 13 emerging markets across Asia, Africa and Latin America.

Featured image: Edited by Fintech News UAE, based on image by 2024 via Magnific.