Orange Money and its bank-to-wallet transfer service
Orange has been a pioneer in Africa in numerous ways over the years. The extensive mobile network that it operates in various parts of the continent has touched the lives of many enterprises and innumerable consumers. Over the last year it has been breaking new ground with an innovative type of payment facility, developing its successful Orange Money brand and further enriching Africa’s already ground breaking use of mobile money.
Working in partnership with Ecobank, a pan-african banking conglomerate, Orange has launched a bank-to-wallet money transfer service in Côte d’ivoire, Guinea Conakry and Niger. This latest move further develops an initiative it started last year in Mali and Cameroon. The service works by simplifying money transfers for both Ecobank and Orange customers by allowing them to top-up their Orange Money e-wallet from their bank account, and vice versa. Customers can use their mobile phones to securely transfer money between accounts at any time, without the need to go to a distribution point or to have any physical cash. Customers can also view their bank account balance and obtain mini-statements by SMS.
In a related innovation, Orange is taking its expertise in e-money and importing it back to Europe. It is underway with plans to launch banking services of its own following the taking of a 65% stake in Groupama Banque, which will become. Resulting services are expected to launch around the start of 2017 and will augment the European digital money market with a 100% mobile money service offer.
Orange is committed to innovate in other ways, such as by transforming its core infrastructure to towards ‘all IP, all IT, all Web’, with core capabilities deliver via cloud. Its infrastructure is being modernised to make it more efficient, more agile, and more