Orange, Visa and Equity Bank signed a partnership agreement at the end of November to launch the first VISA payment card for all Orange Money customers in Kenya.
An additional method of payment to complement mobile telephone payments, aimed at those who do not have a bank account. Although half of all inhabitants have a mobile phone, less than 10% of the African population has a bank account. Having a Visa card linked to an Orange Money account will make their day-to-day transactions easier.
with Orange money, you no longer need a bank account to have a Visa payment card
Mobile payment services offer economical and safe banking services to those who have low incomes, often living in rural or remote regions. African customers are looking for new ways to access their money, and want to have access to a wider range of transactions: cash withdrawals, payment in store, online purchases, savings, bill payments and so on.
The card does not have any intrinsic lower or upper threshold since transactions are linked to the content of the customer’s bank account. The integrated micro-chip is impossible to copy. It is encrypted to block unauthorized access to the card’s information, and thus ensures that the customer’s transactions are secure.
The launch of the Orange Money Visa card in Kenya is part of Orange’s plan to offer a full range of financial services via mobile phones to the people in East Africa who do not have a bank account, by launching specific offers in each country.
Orange Money: How does it work?
Orange Money is a free service available to all Orange customers. An innovative payment system by mobile phone, it means common banking transactions and operations can be made in complete security.
the Orange Money offer is based around three service categories:
• Money transfer
• Payment
• Financial services
Launch of the Orange Money service in Côte d’Ivoire in December 2008
8 African countries have now launched the service: Mali, Senegal, Côte d’Ivoire, Niger, Botswana, Kenya, Madagascar, Cameroon.
3 million customers registered in November 2011
10% of Orange customers (in OM countries) have also opened an Orange Money account.
over EUR 20 million exchanged every month
over 9 million transactions per month
8,000 points of sale and up to 1,000 traveling salesmen per country
the press release
video of press conference
the Orange Money offers proposed in the various countries
Ivory Coast
Senegal
Mali
Madagascar
Niger
Kenya