Orange Money launches revamped App
Competition within the mobile money sphere has motivated Orange Money to upgrade their App, as the company opens up its digital availability.
Launched in 2017, the revamped Orange Money App is expected to enhance service offerings, towards improved convenience and inclusion, adapting to the fast pace of the digital world. “This further strengthens our resolve to be Botswana’s first choice in mobile money transactions,” said Orange Money Chief Executive Officer, Seabelo Pilane. Pilane said Orange Money will continue to evolve and offer new services to customers, making inclusive financial transactions accessible on the local economy. “This evolution continues to put us ahead in the country’s mobile financial services sphere. Our products and service portfolio has grown tremendously since the inception of our mobile money services in the country. We continue to work to deliver, not only firsts but significant and tangible developments that add value for our customers. Our promise is to continue to find more ways to empower Batswana through our services,” said Pilane.
The revamp of Orange Money App comes as new electronic payment services ( EPS) regulations have prompted Orange Money to consider transforming into a subsidiary of Orange Botswana. The new reserve bank regulations are expected to establish the licensing and oversight of electronic payment service providers in the country.
According to Orange Botswana, the decision will spur the company towards a stronger focus of driving the mobile financial services strategy for Orange Botswana Group. “We are currently engaged in an internal transformation project to complete the separation of the telco and mobile financial services operations,” said Pilane. The Bank of Botswana ( BoB) says the new regulations demand the licensee to establish effective and transparent and adequate government arrangements, which include keeping electronic payments services unit separate from the substantive business of the licensee. And for the purposes of regulation, BoB also emphasizes that appropriate and tested technology systems with fraud monitoring tools coupled with a system that is interoperable with other payment systems within Botswana should be used. With ten years of operating in Botswana, Orange Money’s active user base exceeds 30 percent of the country’s addressable market of persons 16 and above, growing from initial offering of basic mobile money service of cashin, cash- out and person- to- person transfers.
The reserve bank said the EPS regulations recently promulgated are expected to spur the country’s payment gateways. “Preliminary indications are that the EPS regulations have led to the opening up of payment gateways as demonstrated by the growth of mobile money as an alternative method of sending and receiving money and other low- value payments,” said Bank of Botswana ( BoB), Head of Communications and Information Services, Dr. Seamogano Mosanako.