The service has already been launched in Mali and will be rolled out during H1 2015 in several other African countries, including Cameroon, Côte dIvoire, Guinea Conakry, Niger, Senegal, and the Democratic Republic of the Congo.
Orange unveiled in the announcement that the partnership aims to facilitate money transfers for both Ecobank and Orange customers by enabling them to top up their Orange Money e-wallet from their bank account and vice versa. Customers can use their mobile phone to transfer money at any time without the need to go to a distribution point or to have physical cash.
The two companies have launched the service following the signature of a memorandum of understanding. The partnership comes as part of a joint strategy to enhance mobile financial services across Africa.
With Orange Money, customers can transfer money from their mobile phone to any other customer in the country and, in some countries, internationally. They can also pay water, electricity and television bills and top up telephone airtime remotely. Depending on the country, they may also benefit from savings and insurance solutions.
This type of partnership with banks allows a customer to link a bank account with his or her Orange Money account. Notably, it is a service that facilitates exchanges between persons with bank accounts and those without. Ecobank customers can also view bank account balance and obtain mini-statements by SMS via the service.
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