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Orange, Ecobank expand bank-to-wallet funds transfer service

Customers can use their mobile phones to securely transfer money between accounts at any time, without the need to go to a distribution point or to have any physical cash.

Orange and Ecobank have extended a partnership launched last year in Mali and Cameroon that allows customers of the two companies to transfer funds back and forth between their Ecobank bank account and their Orange Money e-wallet. 

Customers can use their mobile phone to transfer money between accounts at any time, without the need to go to a distribution point or to have any physical cash, according to a press release. Ecobank customers can use the service to view bank account balances and obtain mini-statements via SMS.

"Since its launch in January 2015 in Mali, this service has been a huge success with close to 110 million euros ($124 million) transferred between Ecobank and Orange Money accounts,” said Thierry Millet, director of mobile payment and contactless at Orange Money. "This easy-to-use system meets the demands of customers who already have a bank account and who want to use their mobile phones to carry out bank operations, wherever they are in the country and at whatever time of day."

Launched in the Côte d’Ivoire in December 2008, Orange Money is currently available in 14 countries in Africa and the Middle East.