Orange and Ecobank have launched a bank-to-wallet money transfer service in West Africa that will enable customers to use their mobile phones to securely transfer money.
This service also enables users to pay for utilities like electricity, water or television bills and buy air time for their mobile phones remotely. (Image Source: whiteafrican/Flickr)
The initiative was launched last year in Mali and Cameroon and will now be available in Côte d’Ivoire, Guinea and Niger. The service facilitates money transfers for both Ecobank and Orange customers, enabling them to top-up their Orange Money e-wallet from their bank account, and vice versa. Ecobank customers will also be able to view their bank account balance and obtain mini-statements by SMS.
“Since its launch in January 2015 in Mali, this service has been a huge success with close to US$125mn transferred between Ecobank and Orange Money accounts,” said Orange Money, Mobile Payment and Contactless director Thierry Millet.
Ecobank Group consumer banking group executive Patrick Akinwuntan added, “We have seen remarkable success in the volume of bank transfers since the beginning of a successful partnership between Ecobank and Orange, and we are confident that this service will also have a great success in the new countries.”
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