Mobile phone customers may open an Orange Money account for free whether or not they have a bank account. Customers can then carry out simple banking operations and transactions in total security.
The three key services include:
- money transfers, where users can send money using their phone to any Orange Money customer in the country;
- basic financial services, including the deposit and withdrawal of cash from a large network of distributors, as well as a simple means to save money;
- payments, giving users a simple way to buy mobile phone credit at any time or place, or to make purchases in Orange shops. In the coming months, customers will also be able to use Orange Money to pay their domestic bills such as water and electricity.
“Orange Money has already been launched by Orange in several other markets across Africa and has a proven track record for its reliability and high-level of security,” said Philippe Luxcey, Orange Uganda CEO.
“By launching this service in Uganda in partnership with Post Bank and Pride Microfinance, Orange will provide the best possible mobile payment service for our customers,” he explained.
In order to ensure that customers can transfer money reliably and in full security, Orange Uganda has added features that will mitigate the risk of sending money to the wrong people or carrying out unintended multiple transactions. These features include:
- First time confirmation: when sending money for the first time, an Orange Money customer will have to dial a number to confirm the transaction.
- Multiple transaction security: when several transactions are logged within an hour, the customer will receive a message requesting confirmation; failure to confirm will automatically cancel the transactions.
- Specific password management: customers are required to change password to activate the Orange Money service. In addition, customers must enter a personal PIN number in order to access all Orange Money services including balance inquiry.
Orange Money milestones
Orange Money, the Group’s mobile payment service, was first launched in Côte d’Ivoire in December 2008. It has since been launched in 12 countries across Africa and the Middle East: Botswana, Cameroon, Guinea, Jordan, Kenya, Madagascar, Mali, Mauritius, Niger and Senegal in line with its goal to launch the service in all 20 countries in Africa and the Middle East where the Group operates. Orange Money has now attracted over 5 million customers, making it one of the continent’s most powerful mobile payment tools.