Orange Money celebrates a decade of financial innovation
Since its launch in 2008 in Côte d'Ivoire, 40 million customers in 17 countries rely on Orange Money to access simple and secure financial services every day. A success story that shows how digital technology can make life easier for everyone.
Launched on 8 December 2008 in Côte d’Ivoire, Orange Money is now a major growth driver for Orange. As an essential service in Africa, it also offers future market potential in Europe.
Orange Money has built its success around convenience, ease of use and perfect integration with other Orange services. In this way, the service represents our future mobile financial services in all Orange countries, in particular Europe.Paul de Leusse, Deputy CEO, Mobile Finance
Mobile money, when technology enables progress
Access to a traditional bank account remains difficult for a large part of the African population, while mobile phones are widely used.
Orange Money has built its success on its accessibility and universality enabling millions of people who would otherwise be excluded from a formal financial system to make transactions instantly, securely and reliably via their mobile phones.
Managing money, sending money to family, paying for living expenses and receiving a salary via a mobile phone all enable communities to progress.
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.Alioune Ndiaye - CEO Orange Middle East & Africa
Orange Money key figures
40 million customers (September 2018)
160,000 points of sale (December 2017)
26 billion euros in transactions per year (December 2017),
13 million customers use it each month (December 2017).
Source : Orange Money
Diversifying uses and services
Initially focused on money transfers and mobile phone top-ups, Orange Money now responds to broader needs including international transfers, bill and wage payments and purchasing TV subscriptions.
Watching up to 200 Canal+ TV channels in a dozen countries in Africa is now a simple and instant process through Orange Money.
Canal+ subscribers can use their Orange Money account to activate their subscription, as you can see in the video presented by David Mignot, Managing Director of Canal+ Africa.
The service is also opening up opportunities in new markets such as e-commerce.
Mobile payments are crucial for African markets, where credit cards are not as well used on e-commerce sites as they are in Europe. Many customers are worried about fraud and are therefore hesitant to use their bank cards online.
That’s why mobile payments have become the best option for many people as building trust is essential for e-commerce businesses.
Orange’s mobile payment service provides all the necessary security and reliability as explained in this video featuring Jeremy Hondara, cofounder of Jumia.
In addition, the Bank to Wallet service launched in 2015 goes one step further by enabling transfers between traditional bank accounts and Orange Money accounts.
A regulated activity
To meet the compliance regulation governing mobile money services, Orange’s financial institutions have Central Bank approval in 7 African countries as well as a mutualised compliance expertise centre, CECOM, based in Abidjan. These organisations guarantee the compliance of all operations and interact directly with authorities, simplifying the launch of new services.
The ambition is to make Orange Money as accessible to as many people as possible in strict compliance with the regulations of the Central Bank in each region and monetary area where Orange operates.
Developing new services
Orange is going one step further, with loans and savings services also instantly accessible from a mobile phone. These services have already been available to customers in Mali and Madagascar since the beginning of the year through partnerships with local financial institutions.
Another strong axis for Orange Money’s development, international transfers, will also make life easier for people living outside their homeland who need to send money to their loved ones.
Finally, with the widespread use of smartphones and the rapid development of new services, Orange Money is evolving through a new app that will help people interact and transact.