Visa and Orange collaborate to bring Visa prepaid account features to developing markets

Mobile payments in Africa and Middle East

The collaboration will integrate Visa prepaid account features with Orange Money customer accounts in Africa and the Middle East (view press release). Orange Money is a mobile based payment service, developed in collaboration with local banks in 2008, to provide people in Africa and the Middle East with the ability to make P2P transfers, bill payments and load and withdraw funds. The solution is currently available in eight countries across the region. The integration of Visa Mobile Prepaid will enable Orange Money customers to also make retail and e-commerce purchases at Visa accepted retailers and withdraw funds at Visa compatible ATMs. The integration is due to begin in select markets by the end of the year.

Visa President John Partridge says “mobile technology has become one of the most important enablers of financial inclusion and its ubiquity is allowing mobile network operators, financial institutions and Visa to connect financially under-served consumers to each other and the global economy… The convergence of mobile and financial service networks helps to remove service barriers, accelerates the pace of change and is transforming the lives of consumers in developing countries.”

 

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