Orange is launching Orange Money in Morocco. The solution will allow mobile customers, regardless of which telecom operator they use, to perform transactions through a digital wallet linked with their cell phone number.
Orange Money will allow smartphone users to perform everyday financial transactions, pay for phone recharges or top-ups remotely or take out money from their digital wallets at points of sales systems that have been approved by Orange Money Maroc.
Paul de Leusse, deputy CEO at Mobile Finance, stated:
“Orange Money has built its success around convenience, ease of use and perfect integration with other Orange services. In this way, the service represents our future mobile financial services in all Orange countries, in particular Europe.”
The Orange Money solution aims to promote greater financial inclusion by helping people make fast and cheap digital payments.
Alioune Ndiaye, CEO at Orange (for MENA region), noted:
“Orange Money is a real contributor to socio-economic development in Africa and is a key part of our multi-service operator strategy to be a partner for transformation in Africa and the Middle East.”
Orange and NSIA have established a joint venture, with a banking license, which allows them to launch an all-digital bank and expand their financial services to include loans and savings accounts.
Established in 2008, the Orange Money mobile money platform allows users, who are unable to access modern banking services, to securely deposit, withdraw, transfer and make payments from their mobile devices.
The Orange Money service is currently available in 18 countries. The company claims it facilitated 2.6 billion euros worth of transactions last year.