Orange has announced the launch of its latest service in Morocco – Orange Money. This robust solution is mainly targeted at those who do not have bank accounts, and offers mobile users (irrespective of their telecom operator) the opportunity to having a mobile wallet supported by their phone number. Orange Money allows mobile phone users to carry out financial transactions, withdraw money from their Money wallets at points of sale approved by Orange, and even pay for online phone recharges remotely. Non-Orange customers can also benefit from this service by simply downloading the mobile application.
Since its inception in 2008, the Orange Money mobile solution has enabled millions of people, who were excluded from the banking system, to perform almost all basic bank functions such as depositing, withdrawing funds, transferring and making payments from the comfort of their phone, all with complete security. Twelve years after the launch of Orange Money, the service continues to record exponential growth and is now available in 18 different countries, with 45 million active users registering €2.6 billion in transactions during 2019 alone.
Being a major player in the continent’s economic growth, Orange Money is instrumental in the financial inclusion of underprivileged populations, and the digitalization of the African continent. Orange is also looking forward to expanding its digital services to include more services with a seamless customer experience.
“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,” said Alioune Ndiaye, CEO of Orange Middle East & Africa.
Orange received approval for Orange Money last summer straight from Morocco’s Bank Al Maghrib, making Morocco the eighteenth country in Orange’s African and Middle Eastern footprint to launch the mobile money solution. Orange and NSIA have also set up a joint venture, with a banking license approved by the Central Bank of West African States. This banking license enables the supplier to launch a digital bank and expand its financial services into loans and savings for West African consumers.