French multinational telecommunications giant Orange has rolled out a new remittance corridor from Europe to mobile money account holders in Cameroon.

Orange Money and MTN Mobile Money account holders in Cameroon can directly receive deposits from France and Belgium thanks to Orange Money Europe.

The telco posted a message on its website which reads: “In addition, your relatives will be able to withdraw money from distributors of interconnected banks via GIMAC (Interbank Electronic Banking Group of Central Africa). No need for a credit card, your recipient will be able to withdraw money from ATMs by receiving a code by text message.”

The company stated that the initially the service will be focused exclusively on the Europe to Cameroon route, this while it awaits the regulator’s approval to enable sending from Cameroon to Europe.

According to Orange, users in France and Belgium will be able to remit a maximum of €400 with their identification document. Those who carry out transactions using the Orange Money Europe app will have the advantage of sending as much as €800.

Beyond this limit, the user will be expected to submit a proof of residence, in addition to ID document. In this case, the monthly cap has been fixed at €2,000.

Orange Money claims to have one of the lowest sending on the market. For transactions from Europe to Cameroon, the telco noted that it will charge €1.99 for transactions ranging from €0.01 to €100 and €2.99 for transactions from €100.01 to €800. Exchange fees will be included in the transaction cost.

The Orange Money Europe offer also enables users to recharge the telephone of their love ones with SMS, voice and internet data.

According to Orange Cameroun it has registered well over seven million accounts as of 2021, and over 60,000 wholesale and retail agents.

Orange says it service facilitates an average of 800 million francs CFA in transactions per month, and has 35,000 call box agents engaged in both airtime sales and mobile money transactions.

MTN Mobile Money remains its closest competitor.