Orange has joined forces with BNP Paribas so that users who hold an account with the French bank – and also with the operator’s mobile money service – can send money from one to the other.
The service is available in certain African countries, starting in Cote d’Ivoire and extending to those where both operator and bank are present. No full list is provided but Senegal is mentioned as a target market.
The attraction for bank customers is the ability to carry out transactions such as money transfers and bill payments using their mobile phone.
Existing Orange Money users can transfer funds into their accounts directly from their BNP Paribas bank accounts.
Orange Money’s network of agents will also supplement the French bank’s branches, particularly in rural areas.
“This agreement gives Orange Money customers access to new banking services such as savings account and international bank card and gives BNP Paribas customers access to an extensive withdrawal/deposit network and the possibility of paying bills or buying telephone credit from their mobile phones,” said Francois Benaroya, retail director in the international retail banking branch of BNP Paribas.
The two companies said the aim of the partnership is to increase the percentage of users in African countries holding bank accounts.