Orange has rolled out a service that will enable Orange Money subscribers who also have bank accounts with pan-African banking group 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 means that customers of both will be able to top up their Orange Money e-wallet from their bank account, and vice versa. Customers will be able to use their mobile phones to securely transfer money at any time without the need to go to a distribution point or to have physical cash.
The partnership comes as part of a joint strategy to enhance mobile financial services and to increase access to banking services across Africa.
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.
Ecobank customers can also view bank account balance and obtain mini-statements by SMS via the service.
Orange Money had more than 12 million customers and saw 4.5 billion euros exchanged in 13 countries in 2014.
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