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

Safaricom launches M-PESA mobile financial journal

Safaricom has announced the launch of M-Ledger, an Android based application that provides subscribers on the company’s network with a simple and easy to use financial journal to track and monitor their M-PESA transactions.  Read More

Airtel, Access Bank strike Access Money deal

Access Bank Plc has collaborated one of Nigeria’s leading telcos, Airtel to develop and launch a new mobile money service. Read More

Microsoft, Opera Software to extend Opera Mobile Store to more Nokia phones

Opera Mobile Store will replace Nokia Store as the default app store for Nokia feature phones, Symbian and Nokia X smartphones, following an agreement between Opera Software and Microsoft. Read More

Mobile transaction users to hit 2bn by 2017

A new report from Juniper Research has found that just over 2 billion mobile phone or tablet users will make some form of mobile commerce transaction by the end of 2017, up from 1.6 billion this year. Read More

Zero-rating key to customer acquisition - Airtel Africa

Making OTT services such as Facebook and WhatsApp available for free on mobile networks - or so-called “zero-rating” - is a key part of customer acquisition, according to Willie Ellis, head of products and innovation at Airtel Africa. Read More

Airtel to offer insurance cover for iPhone 6 and iPhone 6 Plus

Airtel has announced that it will offer a 2-year insurance cover to its customers who purchase iPhone 6 and iPhone 6 Plus in any of its designated outlets in Kenya.   Read More

EcoCash-Western Union link up

The Western Union Company, a leader in global payment services, and Zimbabwe’s leading mobile money service provider, Econet Wireless, have teamed up to offer consumers fast and reliable international money transfers. Read More

Mobile money services must innovate to be sustainable - Tigo

Mobile money services must continually be innovating if they are to make their business sustainable in the long-run, according to Diego Gutierrez, general manager of Tigo Tanzania. Read More

Mobile money operators must take holistic approach – panel

Companies launching mobile money services were urged by panelists at AfricaCom in Cape Town to approach the market strategically and holistically if they are to be sustainable.   Read More

Ericsson supports Tigo Mobile Wallet in Senegal

Ericsson has announced that Tigo Senegal has launched Tigo Cash service based on the Ericsson Wallet Platform Solution.  Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

GSMA: half a billion mobile subscribers in SSA by 2020GSMA: half a billion mobile subscribers in SSA by 2020

The number of unique mobile subscribers in Sub-Saharan Africa will pass the half billion mark in 2020, says a new GSMA report.

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.  

COMPANY NEWS

VMware Study: Businesses can Take Three Weeks to get Employees Mobile-Ready

EMEA businesses say concerns over trust, ownership and delivery capability may hold back taking advantage of the mobile cloud-era.