Africa: Orange and Ecobank launch money transfer service.

Branchless banking and cashless approach is progressively a deep reality in Africa. From mobile money via mobile financial services to money transfer service, the infatuation is real.  

In this momentum, Orange and Ecobank launch money transfer service between Orange Money accounts and bank accounts in Africa.

A joint strategy aims to enhance mobile financial services and to increase access to banking services across Africa.

Connectikpeople.co can observe that, the service has already been launched in Mali and will be rolled-out in several other African countries, including Cameroon, Côte d’Ivoire, Guinea Conakry, Niger, Senegal and the Democratic Republic of the Congo, during the first half of 2015. 

Laurent Paillassot, Deputy Chief Executive Officer of Orange in charge of Customer Experience and Mobile Banking, said: “This partnership between Orange and Ecobank will further enrich customer experience. By facilitating exchanges between Ecobank and Orange Money accounts, our customers will be able to conduct financial transactions quickly and in complete security, bringing them the best of both worlds. We want to offer this service wherever it makes sense.”

Patrick Akinwuntan, Ecobank’s Group Executive in charge of Domestic Banking, said “This roll-out further demonstrates Ecobank’s commitment to make branchless banking a reality by activating multiple service channels in every country in which we operate. Our unique pan-African footprint also enables us to be at the forefront of efforts to develop the market for cross-border mobile financial services in Africa.”

This type of partnership with banks allows a customer to link a bank account with his or her Orange Money account. Ecobank customers can also view bank account balance and obtain mini-statements by SMS via the service.