FinTech: Orange Money celebrates decade in Africa with 40m customers - ITREALMS

ITREALMS:

Orange Money, Orange’s mobile money solution, is celebrating its 10th anniversary. Launched in 2008, the service currently has 40 million customers and is available in 17 countries, reaching €26 billion in transactions in 2017, reports ITREALMS.

Orange Money, ITREALMS gathered, is now one of the group’s leading growth drivers and continues to evolve to better serve people, companies, institutions and governments.

Initially launched in Côte d’Ivoire in 2008, Orange Money has become a success of this money transfer and mobile payment solution for unbanked or relatively unbanked populations is based on the accessible, universal nature of the service, which makes it possible for millions of people to perform instant, secure and reliable financial transactions using their mobile phone.

ITREALMS also gathered that out of the 40 million customers of Orange Money that some 13 million of whom use it every month. 

Orange Money’s accelerating growth and sales, industry watchers say rose from 60 per cent from 2016 to 2017 have made it one of the Group’s top growth drivers in Africa, particularly in Côte d’Ivoire, Mali, Burkina Faso, Senegal and Cameroon. In some countries, the service gives close to 50 per cent of users access to banking services in areas with low levels of bank usage.

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Aleda partners Orange Money Service on money transfers to Africa

ITRealms:

Orange Money users in France can now transfer funds via their mobile phones to other Orange Money customers in the Ivory Coast, Mali and Senegal, some three West African countries through partnership with Aleda, reports ITRealms.

Marketing manager, Orange Money, Florence Le Bec confirmed this to ITRealms, saying that the French company specialising in paperless payment solutions and money transfers, has established itself as a key player in the sector with the recent launch of Orange Money.

The Orange Money mobile payment solution, she noted was launched in France on June 15, thanks to the expertise of both Orange and Aleda, the first distributer to deploy this service in France. 

“It will enable Orange users to transfer funds via their mobile phones to family and friends in the Ivory Coast, Mali and Senegal as well as mainland France,” Le Bec said.

According to her, what Aleda brings to the Orange Money project includes to take advantage of  Orange's long-standing wholesale partner for the distribution of pre-paid telephone offers, Aleda provides added value in more than one area of this project such as with its comprehensive network of outlets, firmly established at the heart of communities, proved to be vitally useful in launching the Orange Money service. 

Aleda, ITRealms reports, provides approximately 4,000 independent close-to-the-customer points of sale for paperless transactions such as mobile top-ups, electronic money codes or money transfer.

Also, she said, Aleda is a leading telephone services wholesaler in France authorised by operators to sell pre-paid packages on its website, thus Aleda has great expertise in the digital world. 

Pascal Roudier, chief executive of the Aleda Group, explained that “The technological innovations developed by our teams have been an accelerating factor in implementing Orange Money in France.    Our Sepia app for tablets and smartphones allows users to be identified, while our dedicated apps enable the required level of transaction management."

 
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