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Orange Money Big Success In Emerging Markets

orange-money.gifFrance Telecom has announced that it has passed 4 million users of Orange Money, its m-payment service.

Launched over 4 years ago, the service allows users to manage electronic money via their mobile device and is now also launching in Jordan and Mauritius.

Orange Money, which is part of the French operators strategy in Africa and the Middle East, includes not only basic services such as money transfers, buying phone credit and paying invoices, it also includes more advanced services such as insurance and savings offers.

The service is particularly useful to consumers in Africa, where less than 10% of the population has a bank account compared to more than half who own a mobile device has seen its subscriber base quadruple over the last 18 months.

orangecell_jpg_410×270_upscale_q85small.jpg″This exponential growth attests to the strong consumer appetite for this innovative, simple and practical mobile payment service in countries where the population has limited access to bank accounts but is widely equipped with mobile phones,″ said a statement from France Telecom.

As part of the announcement Orange said that over a third of its customers in Madagascar now have an account with Orange Money while in Ivory Coast, the first market where it was launched, daily transactions now exceed over a billion francs (€1.5 million).

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08.08.2012    Tags: , , ,
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