Orange Middle East and Africa have chosen Ericsson as a strategic partner for its pan-African Orange Money service, leveraging Ericsson’s Wallet Platform to let users in fourteen African nations gain access to financial services.
Ericsson’s Mobile Financial Services solution is a financial services platform based on cutting-edge security technology and open architecture concepts. Since its inception in 2008, Orange Money has grown at a remarkable pace.
More than 60 million members use the service in seventeen African and Middle Eastern nations, and it handled more than EUR 62 billion in transactions in 2020 alone.
“Stable, secure, dependable, and compliant mobile banking services are vital to developing the foundations of economic prosperity for many people in Africa,” said Alioune Ndiaye, Chairman and CEO of Orange Middle East and Africa. As we continue to support our customers and improve the services we provide, we are excited to partner with Ericsson because their financial services platform is built on the most cutting-edge security technologies and open architecture framework principles, allowing us to expand our ecosystem and achieve our vision of financial inclusion in Africa.”
Financial services are provided via a flexible and simple mobile phone interface, eliminating the requirement for a bank account. Customers of Orange Money may safely store, transfer, and withdraw money, as well as pay merchants and utility suppliers, among other financial services. Starting with Senegal, Orange Middle East and Africa will roll out Ericsson’s Mobile Financial Services solutions in phases across fourteen of its Orange Money nations.
Ericsson’s solution will enable a more agile and compliant IT architecture to improve transaction flow management performance. Ericsson will contribute to financial inclusion and economic development in these nations by enhancing Orange’s core mobile money platform. Ericsson’s Wallet Platform solutions, which are offered by communications service providers, are being used by more than 300 million individuals around the world.
“This is a new milestone in our long-standing cooperation with Orange Middle East and Africa,” said Fadi Pharaon, President of Ericsson Middle East and Africa. This partnership enables Orange Middle East and Africa to accomplish its mission of accelerating financial inclusion in Africa by leveraging Ericsson’s industry-leading and cutting-edge Mobile Financial Services Platform. This strengthens Ericsson’s position as a technological leader in providing the most advanced and innovative Mobile Financial Services while also contributing to Africa’s economic development.”