Orange
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. The service
has already been launched in Mali and 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.
The
two companies have launched the service following the signature of a
memorandum of understanding. The partnership comes as part of a joint
strategy to enhance mobile financial services and to increase access to
banking services across Africa.
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 easyto- 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. 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. By facilitating exchanges between Ecobank and Orange Money
accounts, our customers will be able to conduct financial transactions
quickly and in complete security, bringing them the best of both worlds.
We want to offer this service wherever it makes sense.”
Patrick
Akinwuntan, Ecobank’s Group Executive in charge of Domestic Banking,
said “This roll-out further demonstrates Ecobank’s commitment to make
branchless banking a reality by activating multiple service channels in
every country in which we operate. Our unique pan-African footprint also
enables us to be at the forefront of efforts to develop the market for
crossborder mobile financial services in Africa.”
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