Financial inclusion has taken centre stage in Mali as a new partnership between Orange Finances Money Mali, an electronic money establishment and subsidiary of Orange Mali, and TerraPay, global cross-border payments network, has been signed.
The new partnership will see 12 million Malians have greater communication with other African countries as well as the rest of the world. A focus for both Orange Finances Money Mali and TerraPay, the organisations set their sights on improving accessibility to finance during a time when financial inclusion has emerged as a significant hurdle in the Middle East and Africa (MEA) region.
Orange Finances Money Mali is bridging this gap by striving to boost accessibility and inclusion through its services. One of the key highlights of this alliance is the ease with which Orange Money Mali customers can either cash out the funds received in their wallets or directly use them for everyday needs. This includes bill payments, supermarket purchases, and person-to-person transfers.
The partnership’s potential lies in combining Orange Finances Money Mali’s growing client database and TerraPay’s wide network. The latter’s network spans:
- Over 120 receive countries
- Over 210 send countries
- More than 7.5 billion bank accounts
- Over 2.1 billion mobile wallets.
Partnering with Mali’s biggest mobile money operator enables TerraPay to stay true to its commitment to quality and provide the best cross-border payment services in the region. The convenience and accessibility offered by this collaboration will benefit industry players, the public, customers, and merchants alike.
Responding to the partnership
Djeneba Tandjigora, chief of transfer services and core business at Orange Finances Money Mali, expressed his enthusiasm about the collaboration, stating: “Orange Money Mali customers can now receive money transfers from several countries using TerraPay’s global network. This strategic collaboration simplifies transactions making them quick and secure, enhances the customer experience for Orange Money users and strengthens financial inclusion in Mali.”
Amel Kane, regional sales manager francophone West Africa at TerraPay, views this collaboration as an opportunity to enhance the quality of service and customer satisfaction. “With a direct connection to Orange Finances Money Mali, TerraPay can ensure a seamless cross-border payment experience, reducing operational issues and providing prompt assistance to our partner’s clients. This collaboration reinforces our commitment to expanding our direct rails and continually improving our service offerings.”