Orange unveils another bank-based money transfer service in Africa – Mobile World Live

Orange unveils another bank-based money transfer service in Africa

05 FEB 2015

A new pan-African service between Orange and Ecobank will enable users who hold accounts with both companies to transfer money between them — the latest such link-up for the operator.

The service has already been launched in Mali and will roll out in several other African countries during the first half of 2015.

Orange has previously struck similar partnerships with Bank of Africa and BNP Paribas.

The operator and Ecobank are launching the service having signed an MoU. The partnership is part of a joint strategy to enhance mobile financial services and to boost access to banking services across Africa.

The deal means Orange Money users can top up their wallet on their mobile phones from their bank account and vice versa.

Mind you, many users in Africa do not have bank accounts. In fact, according to Orange, less than 24 per cent of the population in sub-Saharan Africa has an account, rather making the point.

However, as the operator points out, the holder of the mobile and bank accounts does not have to be the same person. In fact, it can also facilitate transfers between people with bank accounts, and those without.

The Orange-Ecobank service will launch in several other countries including Cameroon, Cote d’Ivoire, Guinea Conakry, Niger, Senegal and the DRC in the first half of 2015.

Author

Richard Handford

Richard is the editor of Mobile World Live’s money channel and a contributor to the daily news service. He is an experienced technology and business journalist who previously worked as a freelancer for many publications over the last decade including...

Read more

Related

Tags