Orange Expands Mobile Money Platform to Three More Countries
Published on: 25th May 2010
Note -- this news article is more than a year old.
Orange has launched its mobile payment service, Orange Money, in three additional African countries, Senegal, Mali and Madagascar in recent weeks. The service allows mobile customers to deposit and withdraw money, to transfer money, to easily buy call credit, to pay for goods at certain retail partners and to pay bills.
Orange is also studying customer needs in each market, with the intention of developing additional, more advanced mobile payment services such as international money transfers. The service is available for all Orange customers whether or not they have a bank account, and is activated free of charge and without any minimum deposit.
Orange's mobile-payment service is built around partnerships with banks, which are responsible for issuing and guaranteeing the electronic money. For countries in Western Africa for example, the Group is working with local subsidiaries of BNP Paribas. Orange is responsible for the service's IT platform and marketing, and also provides the benefit of its extensive distribution networks in each country.
The launch of Orange Money in Senegal, Mali and Madagascar follows on from the launch of the service in the Côte d'Ivoire in December 2008 after extensive trials. Here, the service has met with considerable commercial success. This growth is expected to accelerate in the coming years as the customer base reaches a critical mass and the service becomes part of everyday habits.
Commenting on this launch, Marc Rennard, Orange's Executive Director for the Africa, Middle East and Asia Pacific Region, stated that: "Orange Money is a very important part our strategy in Africa and emerging markets. Mobile payment services have the potential to bring cost-effective and secure access to banking services to people with low-incomes, who often live in rural or remote areas. By providing our customers with the means to save money, pay bills and run their businesses, we are not only reinforcing customer fidelity but we are also able to play an active role in the economic development of the country".
Orange Money will also be launched in Niger and Kenya in the coming months, and will eventually be extended across the Group's entire footprint in Africa and the Middle East.