Mobile network, Orange Botswana and Standard Chartered Bank Botswana have partnered to provide their customers with a new, relevant, innovative and convenient financial solution dubbed #Bank2Wallet. According to the two entities, the service will allow the bank’s customers to transfer money from their bank accounts to Orange subscribers through the networks’ Orange Money service.
“The Bank2Wallet service provides Standard Chartered Bank customers with an opportunity to enjoy even greater financial support to those closer to them, loved ones who do not own bank accounts or reside in areas where the bank has no physical presence. The partnership allows both parties to leverage their strengths to contribute positively to the growth of the informal sector and the finance sector. Customers can transfer money from their Standard Chartered Bank accounts to Orange Money through the Standard Chartered Mobile Banking App and Online banking platform,” said the bank at the launch of their latest innovation recently.
Orange Botswana Chief Executive Officer (CEO), Dr. Patrick Benon said the partnership is an opportune one for their customers.
“We are happy to have partnered with Standard Chartered Bank Botswana to drive greater financial inclusion by bringing our financial services closer to Batswana. We are committed to contributing to the development and evolution of Botswana’s financial landscape and this partnership that enables banked individuals to transfer their money from their bank accounts to Orange Money wallets is another initiative that affirms we are moving in the right direction.”
Another speaker, Kealeboga Sebolai, Acting Director of Orange Money said the service is a catalyst to seamless financial transactions between the banked and the unbanked.
Sebolai explained that Orange Money users will now be paid or receive money through a Standard Chartered Bank account wherever they are, thereby positioning Orange Money in the right path towards inclusive financial services.
“Since its inception in 2011, Orange Money has grown exponentially, reaching over 600 000 registered users in 2017 and in the process becoming the leading mobile money service with a market share of 70%. The exponential growth of Orange Money is attributed to the diverse portfolio of services introduced to the platform and the involvement of more stakeholders over the years. Orange Money started off as simple cash in and cash out platform and expanded in to a fully-fledged mobile wallet, allowing essential transactions such as buying motlakase (electricity), salary payments, payment of insurance premiums and Land Board rates,” he concluded.
For their part, Standard Chartered Bank Botswana, Head of Retail Banking, Pedzani Tafa praised the bank’s digital platforms which have in a few years received recognition at the Global Finance Awards for being the Best Consumer Digital Banks in Africa respectively.
Tafa noted that this makes it all the more easier for them to leverage this platform for greater enhancements and services which offer clients Convenience and Access regardless of where they are in the world.
“We are proud to partner with Orange Botswana to offer Batswana a relevant and convenient financial solution as part of our continued effort to demonstrate our brand promise of being, ‘Here for good’.”
As a bank that is making significant investments in the areas of technology and innovation, Standard Chartered Bank Botswana said they continue to seek out opportunities and ways to make sure they leverage convenience through innovation to provide customers with access to true international banking that does not divert them from their day-to-day lives.
“This is very much in line with the financial inclusive desire of both the public and private sector.”