The mobile money service is the second one to be launched in Morocco in less than a year.
Moscow – Telecom company Orange Maroc launched its popular mobile money service, Orange Money, in Morocco on Tuesday, March 10.
The mobile operator received approval for the service last summer from Morocco’s Bank Al-Maghrib.
Orange Money will allow Moroccans to make payments, pay for phone recharges remotely, and transfer money using their mobile phones.
The users will have access to a mobile wallet backed by their phone number and can withdraw money from the Orange Money wallet at approved points of sale.
Mobile users from any telecom operator can access the service by simply downloading the mobile application.
Orange first launched the service in 2008 in Côte d’Ivoire. Orange Money quickly spread throughout the African continent, enabling 45 million customers in 17 countries access to financial services.
Yesterday’s launch makes Morocco the 18th country to have access to the service aimed at increasing financial inclusion in Africa.
Orange Money is the second mobile money service to be launched in Morocco in less than a year.
Mobile operator Inwi launched its mobile money service called Wana Money in September 2019. The company claims more than 140,000 users since its launch.
Orange Maroc is the second-biggest telecoms company in Morocco with a market share of 34.06%, while Inwi is third with a market share of 23.02%. Both trail behind Maroc Telecom that has dominated the market for many years.