Orange links up with MasterCard to digitise African payments
Orange Middle East and Africa and MasterCard have formed a strategic agreement to expand mobile financial services in Sub-Saharan Africa.
This agreement, one of the largest of its kind in the region, will allow millions of Orange Money wallet customers to make digital payments over MasterCard's global network of merchants by 2025, according to the companies.
The agreement will be implemented in seven countries: Cameroon, Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone.
According to the African Digital Banking Transformation Report, just 48% of Africa's adult population has a bank account and the collaboration between Orange and MasterCard, according to the companies, aims to increase access and empower disadvantaged communities.
Orange Money customers will now be able to instantly obtain a virtual or physical debit card, linked directly to their Orange Money wallets.
These cards will allow swift payments both locally and internationally, enabling transactions with local merchants and on any website or mobile app that accepts MasterCard.
Speaking on the partnership, Aminata Kane, CEO Orange Money Group, Middle East and Africa, said: " By offering our users the ability to pay effortlessly with Mastercard virtual card, we open the door to a world of new possibilities and promote their financial independence."
Amnah Ajmal, executive vice president market development, MasterCard EEMEA said: “Our collaboration with Orange Money represents a significant step in unlocking the full potential of digital financial services across Africa, enabling millions to participate in the global economy.”