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FinTech

Orange Money opens remittance corridors from France to Burkina Faso and Morocco

PARIS – After Ivory Coast, Guinea, Madagascar and Mali, it is now Burkina Faso and Morocco that have benefited from the international money transfer solution from France since May 8 and May 20 respectively.

People from Burkina Faso and Morocco living in France can use their Orange Money account to quickly send money to their family and friends. The money is securely transferred, in real time, directly to the recipientís Orange Money account.

Orange continues to extend the international money transfer service for the benefit of its customers across the world. In 2013, Orange was the first operator to launch a mobile-to-mobile international money transfer solution in West Africa, between Mali, Senegal and the Ivory Coast. Transferring money with Orange Money represents an alternative to traditional methods of sending money across borders.

By encouraging the use of mobile money, Orange is helping to bring families closer and facilitating their mutual support as they can manage their money better while stimulating economic growth in these countries. Moreover, during the global health crisis that has affected the whole world, this service offers another way to protect against transmitting the virus as no cash changes hands.

"The financial support sent by the diaspora to their families who stayed behind in the country, and their contribution to the economy, is very important to our country," said Ben Cheick Haidara, chairman of the Orange Money Burkina Faso board of directors.

"Having a simple, rapid and reliable solution like Orange Money, so that the beneficiary receives their money instantly, addresses a real need of our customers. Opening up international money transfers from France to Burkina Faso will cement the use of Orange Money in the daily lives of our population, alongside other existing services," he added.

Yves Gauthier, CEO of Orange Morocco, said: "By introducing international money transfer, we want to offer our customers an alternative to traditional means of receiving money across borders. From now on, their mobile phone allows them to receive money from their relatives living in France at a lower cost, instantaneously and securely."

Christian Bombrun, senior VP of products and services for Orange France, said: "The health crisis we are going through has shown that mobile-to-mobile money transfer is a key benefit for our customers. Money transfer users in France have massively turned to Orange Money to instantly and securely send money to their loved ones in Mali, Ivory Coast, Madagascar and Guinea. The opening of two new corridors, in Burkina Faso and Morocco, is an important step in Orange Money's development strategy worldwide."

Using Orange Money in France
You donít need a bank account to use Orange Money in France. All you need is to have a mobile phone subscription and to register via the Android or iPhone mobile phone app or at an Orange Money point of sale.

It is free to open an Orange Money account. Amongst the stores offering the secure Orange Money service in Metropolitan France, Orange already has 650 points of sale: newsagents, call shops, local grocery stores and tobacconists across the country, as well as 3 Orange Money stores in Paris.

The Orange Money France app allows quick and simple transfers at any time of the day to Burkina Faso and Morocco.

To carry out a money transfer, the customer credits their account with a bank card or cash at a point of sale. They then log onto their Orange Money account directly from their mobile, by entering the Orange Money mobile number of the recipient in Burkina Faso or Morocco as well as the amount to transfer and confirm the transaction. The transfer is then completed, and the money is immediately available in the recipientís account.

Orange in Africa
Orange is present in 18 countries in Africa and the Middle East (MEA) where it had 123 million customers on March 31, 2020. With 5.6 billion euros in turnover in 2019 and 6% annual growth, Orange MEA is the Groupís main region of growth.

One African in ten is a customer of Orange Middle East and Africa and one African in thirty is a customer of Orange Money within 18 countries. Furthermore, almost 30% of the Orange Group's 4G customers reside in Africa and the Middle East.

Orange (NYSE: FTE)

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