Orange mobile money reaches 10 million subscribers

Telecom operator Orange today its mobile money reached 10 million subscribers.

Orange Money service is now available in 13 countries: Botswana, Cameroon, Côte d’Ivoire, Egypt (under the name Mobicash), Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger, Senegal and Uganda.

In 2013, more than 2.2 billion euros in transactions were conducted through Orange Money. In some countries, such as Cote d’Ivoire, more than 40 percent of all Orange customers have an Orange Money account.

“While making a strong contribution to economic and social development, mobile financial services also represent a major growth engine in Africa and the Middle East as well as in Europe for Orange,” said Stephane Richard, chairman and chief executive officer of Orange.

Subscription to Orange Money is free of charge. After opening their accounts, customers have access to three types of services including money transfer, remote payment for goods and services, and financial services.

Orange Money International Transfer for mobile-to-mobile money transfers between Cote d’Ivoire, Mali and Senegal, which has achieved a market share of 15 percent in months.

The telecom service provider also entered into a partnership with Visa in Botswana, giving Orange Money subscribers access to new transaction options at Orange outlets, online and in licensed vending machines.

In addition, Orange has an alliance with Total on distribution and merchant payment in service stations for greater access to Orange Money.

Orange is planning to expand Money business in 2014. It will opening of additional corridors for international transfers, the creation of services for customers with bank accounts, and the development of new interfaces for smartphones, which are becoming more widespread.

Moreover, the Group is continuing its efforts to build up its distribution network, especially in the most remote regions, as proximity is a key success factor for Orange Money.

Telecom Lead