Orange and Ecobank expanding Mali money transfer service across SSA

A new service will enable customers of Orange and the 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 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. Customers can 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.

In sub-Saharan Africa, where less than 24% of the population has a bank account and over 60% have a mobile phone, Orange Money offers easy-to-use mobile financial services that allow transactions to be made remotely and securely, avoiding the need to carry money around. 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.

Laurent Paillassot, Deputy Chief Executive Officer of Orange in charge of Customer Experience and Mobile Banking, said: “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.”

 

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