BNP Paribas is launching the first mobile phone-based payment and money transfer service in Western Africa

Orange is today announcing the commercial launch of Orange Money in Ivory Coast, the first country to benefit from this service within the Group. rnrnWith Orange Money, customers will have access to an entire range of services making it possible to carry out day-to-day banking operations and transactions in total security. These include: rnrn· Depositing and withdrawing money from the Orange Money account up to CFAF 100,000 (around 150 euros)rn· Transferring money from one person to anotherrn· Buying call credit for up to CFAF 10,000, 24 hours a dayrn· Paying bills rnrnThis launch has been made possible thanks to the alliance between BNP Paribas, through its Ivory Coast subsidiary BICICI, in charge of issuing and guaranteeing the electronic money, and Orange, for the service’s platform and marketing. In this way, Orange and BNP Paribas are helping accelerate the level of access to banking services in the Ivory Coast, an essential factor for the country’s economic and social development.rnrnTo subscribe to this service, people do not need to have a bank account. In fact, all they need is to be an Orange customer: the Orange Money account is activated free of charge and without any minimum deposit. Orange Money is built around a system that guarantees transactions against the risk of theft or fraud and that is fully compliant with the regulations in force within the West African Economic and Monetary Union (WAEMU): all transactions are guaranteed for both end customers and recipients.rnFor its release and marketing, Orange Money is drawing on rural and urban distribution networks available through Orange, BICICI and Belkofinance, which will be extended over time.rnrnCommenting on this launch, Marc Rennard, Orange’s International Executive Director for the Africa, Middle East and Asia Pacific Region, stated that: “By launching Orange Money today in the Ivory Coast, we are bringing several months of work to a close with a service that will make life easier for our customers by giving them the possibility to easily carry out bank transactions using their mobile, in total simplicity and total security. We are delighted that Orange Money has been launched for the first time in the Ivory Coast. This event marks the start of the service’s deployment in other Orange countries over the coming months”. rnrnFor Amadou Kane, Head of the Africa Region for BNP Paribas: “BNP Paribas is very proud to have been able to combine its know-how and image with those of Orange to design and launch an innovative means for transferring money in the Ivory Coast. Through the launch of this service in the Ivory Coast, then in other countries, BNP Paribas is committed to supporting the gradual improvement of access to banking services for many low-income households that do not have access to traditional banking services today, in this way playing an active role in the economic development of the countries concerned”.