While digitalization is on the rise in Africa, mobile money remains underutilized as a payment method across many service platforms. The collaboration between telecom operators and banking solutions leaders is a promising step forward.

Mastercard and Orange Middle East and Africa (OMEA) announced a strategic partnership on Tuesday, October 29, that will enable millions of Orange Money wallet holders to instantly obtain a virtual or physical debit card linked directly to their Orange Money account starting in 2025. These cards will allow Orange Money users to make seamless payments locally and internationally with any merchant, website, or mobile app that accepts Mastercard.

The new service will initially roll out in Cameroon, the Central African Republic, Guinea-Bissau, Liberia, Mali, Senegal, and Sierra Leone. According to Aminata Kane, CEO of Orange Money for the Middle East and Africa, “by giving [...] users the ability to make easy payments with the Mastercard virtual card, we open the door to a world of new possibilities and promote their financial independence.”

Amnah Ajmal, Executive Vice President of Market Development for Mastercard EEMEA, noted that this collaboration with Orange Money “marks a crucial step in unlocking the full potential of digital financial services in Africa, enabling millions to participate in the global economy.”

The African Digital Banking Transformation Report 2023 (by African Banker and Backbase) highlights that the banking rate among sub-Saharan Africa’s adult population was 48% last year, marking the region as having one of the lowest levels of financial inclusion. Once extended to Orange’s 17 affiliates across Africa and the Middle East, the Mastercard-Orange MEA partnership promises to open up new financial possibilities for 37 million active Orange Money subscribers.

Mastercard’s expertise in secure payment gateways, combined with its local market knowledge and tailored solutions for small and medium-sized enterprises (SMEs), ensures that this partnership has the potential to transform how millions access financial services and participate in the digital economy.

Customers eager to try the new service will be able to request a virtual debit card via Orange’s Max it super app and pick up a physical card at Orange Money Mastercard locations.