Orange Money reaches 3 million

VALUE ADDED SERVICES

|
Image: By BiztechAfrica
Orange Money reaches 3 million

Orange Money has reached the threshold of 3 million customers in the eight countries where it is now offered. Orange says this growth makes it now one of the most powerful electronic money services in Africa.

Orange Money has tripled its customer base in the past year and continues to grow with the recent launch of services in two new countries: in Botswana in partnership with the Standard Chartered Bank, and in Cameroon in partnership with the BICEC (BPCE group).

Orange Money is a mobile phone-based payment service designed to meet the needs of customers in Africa and the Middle East. The company says such services offer a huge potential in sub-Saharan Africa in particular, where less than 10% of the population have access to a bank account but more than 60% have a mobile phone.

In countries where it is available, mobile phone customers may open an Orange Money account whether or not they have a bank account. Orange Money allows customers to carry out simple banking operations and transactions in total security. The three key services include money transfers, payments and financial services.

Orange says it plans to expand the Orange Money offer in the near future to include the possibility of receiving international money transfers. Orange and Western Union, a global leader in international money transfer services, have joined forces to develop this new service, which will enable Orange Money customers to receive transfers directly on their mobile phones via Western Union's global system. According to the World Bank, countries in Africa, the Middle East and Asia (AMEA) in which the Group operates receive more than 25 million transfers every year.

“Western Union is leading the way in bringing cross-border remittances to people around the globe via their mobile phones,” said Gregg Marshall, Global Head, Mobile Services, Western Union. “We are pioneering a full range of ways for our consumers to send and receive money. This alliance with Orange - one of the world's most successful mobile operators - will introduce cross-border remittances to an entirely new segment of customers by allowing them to receive money using just their mobile phones."

Commenting on the development of Orange Money, Marc Rennard, Orange’s Executive Director for AMEA operations, said: “Orange Money is a very important part of 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, run their businesses and receive money from abroad, we are not only reinforcing customer fidelity but we are also able to play an active role in the economic and social development of the country.”

First launched in Côte d’Ivoire in December 2008, Orange Money is also available in Senegal, Madagascar, Mali, Niger and Kenya, as well as in Botswana and Cameroon. It will soon be launched in Mauritius.



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE VALUE ADDED SERVICES NEWS

Dubai Bank launches M-SASA banking platform in Kenya

Kenya’s Dubai Bank and Rapid Communications, a telecommunications solution provider, have partnered to launch mobile banking system M-SASA.  Read More

Angola creates awareness about E-Kwanza BAI

A major marketing campaign is currently underway in Angola to create awareness about a mobile money service called E-Kwanza BAI, which was launched this month by the Banco Angolano de Investimentos (BAI, Angolan Bank of Investments).   Read More

Orange, USAID join forces to boost mHealth innovations across Africa

The U.S. Agency for International Development (USAID) and global telecommunications operator Orange have announced a new alliance to develop innovations in mobile health (mHealth) at the Global mHealth Forum in Washington, DC.  Read More

WFP, World Vision look to digital to assist DRC refugees

More than 1 100 households whose members fled the war in the east of the DRC have received financial assistance via mobile money from World Food Programme and its partner World Vision. Read More

Tanzania’s Safe Motherhood Text Messaging Service enters third year

Since its launch two years ago, 500,000 men and women accumulatively received 40 million informative safe motherhood messages and reminders through the Wazazi Nipendeni SMS service. Read More

2go racks up 2m monthly users on Android app

Mobile social network 2go has announced it has achieved over two million monthly users on its Android app just over a year after its launch. Read More

Airtel Money now largest financial service provider in DRC

Airtel Money has hit the 1 million revenue-earning customers landmark in the Democratic Republic of Congo (DRC). Read More

MTN partners Tastee Fried Chicken to launch meal vouchers

MTN Nigeria has extended partnership with a leader in the outdoor and quick service restaurant sector, Tastee Fried Chicken (TFC) with the launch of meal vouchers to increase its retail footprints and provide its products and services at all TFC outlets nationwide. Read More

Airtel, Facebook partner to give Kenyans free internet access

Airtel has officially launched a partnership with Facebook to offer the Internet.org app to its pre-paid and post-paid customers in Kenya.  Read More

MTN launches cross-border remittance between Ivory Coast and Benin

MTN Group today announced the launch of a mobile money cross-border remittance service between Ivory Coast and Benin, to further enable the cheaper and easier movement of money in the West Africa region. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

PWC: Optimism abounds but a bumpy journey ahead for somePWC: Optimism abounds but a bumpy journey ahead for some

PwC’s ‘Capital Projects & infrastructure in East Africa, Southern Africa and West Africa,’ report says infrastructure spend in the region is projected to reach $180bn per annum by 2025.

IN DEPTH

Africa lags on digital migration Africa lags on digital migration

Only three African countries have so far completed the digital migration process, and serious issues are hampering the migration in other nations.