The country is reportedly be the first to benefit from the new program which gives subscribers access to funds 24 hours a day, and allows for easy access to customers through new point-of-sale, online and ATM transactions.
Orange Money presently allows customers to use their devices to transfer funds to mobile subscribers in and out of the country and to buy airtime and pay bills.
Developments in mobile money services include allowing subscribers in Botswana to use their Orange Money accounts to make Visa payments and pay invoices at stores, in addition to transfer funds to international online merchants and at over 300 Visa ATMs in the country.
According to reports, subscribers using the service will also be able to benefit from a secured virtual Orange Money prepaid Visa card for web services. Orange Money subscribers will be required to apply for a prepaid Visa card, linking it to the subscriber’s mobile money account.
Orange claims Botswana will be the first country in the world to launch these enhanced mobile services, and the deal is part of a group wide collaboration between the French operator and Visa.
“This is a significant milestone in Visa’s strategy to drive financial inclusion,” said Hannes Van Rensburg, head of digital solutions for emerging markets at Visa. “The program will contribute to the mobile money revolution in Africa, enabling many more people to access the benefits of the formal financial system.”
The company is targeting a range of developing countries in Africa and the Middle East to deploy prepaid products and services, with the view of driving economic growth and allowing for financial inclusion through electronic payments.
