Orange Money Clocks Up 3m Customers

Orange has revealed that its Orange Money has attracted 3m customers across the eight countries in which it is offered, a number which has tripled in the last year. A mobile payment service for customers in Africa and the Middle East, Orange Money was launched in December 2008 and has since become, the company says, one of the most powerful electronic money services in Africa.

Orange Money can act as a simple banking service, enabling mobile users to transfer money, make payments and use savings and insurance solutions. The service covers regions of sub-Saharan Africa in which less than 10 per cent of the population have access to a bank account, but more than 60 per cent have a mobile phone.

“Orange Money is a very important part of our strategy in Africa and emerging markets. Mobile payment services have the potential to bring cost-effective and secure access to banking services to people with low incomes, who often live in rural or remote areas,” says Marc Rennard, Orange’s executive director for AMEA operations. “By providing our customers with the means to save money, pay bills, run their businesses and receive money from abroad, we are not only reinforcing customer fidelity but we are also able to play an active role in the economic and social development of the country.”

The service has recently launched in two new countries: in Botswana in partnership with the Standard Chartered Bank, and in Cameroon in partnership with the BICEC (BPCE group).