Orange Telecom and pan-African banking group Ecobank have rolled out a service that will enable Orange Money subscribers who also have bank accounts with Ecobank to transfer money between their respective accounts.
According to a press release sent to East African Business Week, the service has already been launched in Mali.
It will be rolled-out in several other African countries, including Cameroon, Côte d’Ivoire, Guinea Conakry, Niger, Senegal and the Democratic Republic of the Congo, during the first half of 2015.
The partnership aims to facilitate money transfers for both Ecobank and Orange customers by offering them the possibility of topping up their Orange Money e-wallet from their bank account, and vice versa. Cust omers can use their mobile phones to securely transfer money at any time without the need to go to a distribution point or to have physical cash.
In sub-Saharan Africa, where less than 24 percent of the population has a bank account and over 60 percent have a mobile phone, Orange Money offers easy-to-use mobile financial services that allow transactions to be made remotely and securely, avoiding the need to carry money around.
With Orange Money, customers can transfer money from their mobile phones to any other customer in the country and, in some countries, internationally.
They can also pay their water, electricity and television bills and top up their telephone airtime remotely. Depending on the country, they may also benefit from savings and insurance solutions.
With more than 12 million customers and 4.5 billion euros exchanged in 13 countries in 2014, Orange Money has delivered considerable success.
Laurent Paillassot, Deputy Chief Executive Officer of Orange in charge of Customer Experience and Mobile Banking, said: “This partnership between Orange and Ecobank will further enrich customer experience.”