Orange telecom has launched its mobile money wallet service. Orange money will be in partnership with Pride microfinance and Post bank to broaden the financial service to its customers.
Orange Uganda CEO Philippe Luxcey believes that Orange Money will build on its successes in other African countries.
"Orange Money has already been launched by Orange in several other markets across Africa and has a proven track record for its reliability and high level of security. By launching this service in Uganda in partnership with Post bank and Pride microfinance, Orange will provide the best possible mobile payment service for our customers," he said.
Orange customers can use the platform to carry out simple banking transactions with Pride microfinance and Post bank. Orange plans to follow other players to enable customers use Orange Money to pay utility bills such as water and electricity.
As a security feature, with Orange money, customers will be able to confirm if transactions have reached their intended receipts.
"When sending money for the first time, an Orange Money customer will have to dial a number to confirm the transaction," he said, adding that "when several transactions are logged within an hour, the customer will receive a message requesting confirmation; failure to confirm will automatically cancel the transactions."
Customers will also be required to change their passwords from time to time and to enter a personal identification number (pin) in order to access Orange Money services including balance inquiry.