Orange MEA, Mastercard sign mobile financial services deal
Orange Middle East and Africa and Mastercard have announced a strategic partnership to enable Orange Money wallet holders to access digital payments in Cameroon, the Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.
Orange Middle East and Africa and global payments firm Mastercard have announced a strategic partnership to expand access to mobile financial services across sub-Saharan Africa.
The telecoms operator said the collaboration is one of the largest of its kind in the region and aims to enable millions of Orange Money wallet holders to access digital payments through Mastercard’s global network of merchants by 2025.
The partnership will be rolled out in seven countries including Cameroon, the Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal and Sierra Leone.
With a large portion of Africa's adult population remaining unbanked, the deal is "designed to accelerate financial access, contributing to the financial empowerment of underserved communities", the group said.
Through the partnership Orange Money's customers will be able to obtain a virtual or physical debit card, linked directly to their Orange Money wallets.
Customers can request a virtual debit card via Orange's super app, Max it, and collect a physical card at a designated Orange Money Mastercard point of sale.
By 2025 Orange Money wallet holders in seven African countries will be able to access digital payments through Mastercard's network. (Source: Image by senivpetro on Freepik)
Aminata Kane, CEO of Orange Money Group for Middle East and Africa, said that the collaboration will allow users to pay with the Mastercard card linked to their Orange Money wallet when they travel internationally, and give them access to secure online shopping all over the world.
Orange has 37 million active Orange Money accounts in 17 countries in Africa and the Middle East.
"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," added Amnah Ajmal, executive vice president for market development at Mastercard Eastern Europe, Middle East and Africa (EEMEA).
Mastercard ramps up African deals
Mastercard has done several deals in Africa and the Middle East over the past few months.
In March 2024, MTN Group and Mastercard launched a prepaid virtual bank card for MTN Mobile Money (MoMo) customers across 13 markets in Africa, as well as a physical Mastercard companion card.
This came after Mastercard in February 2024, invested US$200 million into MTN Group's fintech business, expanding on a larger commercial relationship.
In April 2024, Mastercard and payments company, Onafriq, partnered to enable digital commerce for consumers and small- and medium-enterprises (SME) across the continent.
In September 2024, Mastercard and Amazon Payment Services signed a multi-year commercial partnership agreement to digitize payment acceptance for merchants in 40 markets in the Middle East and Africa, including Egypt and South Africa.