With 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:
· Depositing and withdrawing money from the Orange Money account up to CFAF 100,000 (around 150 euros)
· Transferring money from one person to another
· Buying call credit for up to CFAF 10,000, 24 hours a day
· Paying bills
This 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.
To 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.
For 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.
Commenting 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”.
For 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”.
Orange is the key brand of France Telecom, one of the world's leading telecommunications operators. France Telecom serves more than 177 million customers in five continents as of September 30, 2008, of which two thirds are Orange customers. The Group had consolidated sales of 52.9 billion euros in 2007 and 39.9 billion euros for the nine first months of 2008. As of September 30, 2008, the Group had 117.6 million mobile customers and 12.4 million broadband Internet (ADSL) customers.
Launched in June 2005, the NExT program (New Experience in Telecommunications) will enable the Group to pursue its transformation as an integrated operator and make France Telecom the benchmark for new telecommunications services in Europe. In 2006, Orange became the Group's single brand for Internet, television and mobile services in the majority of countries where the company operates, and Orange Business Services the banner for services offered to businesses worldwide. France Telecom is the number three mobile operator and the number one provider of broadband Internet services in Europe and one of the world leaders in providing telecommunication services to multinational companies.
France Telecom (NYSE:FTE) is listed on Euronext Paris (compartiment A) and on the New York Stock Exchange.
For more information: www.orange.com, www.francetelecom.com, www.orange-business.com
Orange and any other Orange product or service names included in this material are trade marks of Orange Personal Communications Services Limited, Orange France or France Telecom.
About BNP Paribas
BNP Paribas (www.bnpparibas.com) is a European leader in global banking and financial services and is one of the 3 strongest banks in the world according to Standard & Poor's. The group is present in 85 countries, with more than 171,000 employees, including 131.000 in Europe. The group holds key positions in three major segments: Corporate and Investment Banking, Asset Management & Services and Retail Banking. Present throughout Europe in all of its business lines, the bank's two domestic markets in retail banking are France and Italy. BNP Paribas also has a significant presence in the United States and strong positions in Asia and the emerging markets.