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Phone-based payment service garners 3 million users across Africa and the Middle East
November 24, 2011
PARIS -- Orange Money has reached the threshold of 3 million customers in the eight countries where it is now offered, thus becoming 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 an innovative, mobile phone-based payment service specially designed to meet the needs of customers in Africa and the Middle East. 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, where users can send money using their phone to any Orange mobile customer in the country; payments, giving users an easier way to pay their electricity, water, television or phones bills, as well as providing a simple way to buy mobile phone credit from any location; financial services, including solutions facilitating savings and insurance.
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