Orange Botswana has partnered with Visa incorporation and other significant stakeholders to launch a plastic money card in the country to allow its subscribers to improve the delivery of appropriate and affordable banking services.
“Our latest innovation, Orange Money Visa service, is a world first and a breakthrough innovation which goes a step further in the financial inclusion,” said the CEO of Orange Botswana Elisabeth Medou-Badang.
She added that the country has about 50 percent of the citizens who do not have bank accounts and this will be a great avenue to tap into that population.
“Now Orange Money customers can get a debit card that allows ATM withdrawals from the over 300 VISA ATMs in Botswana and purchases at over 4,700 VISA point of sale machines. Even better, Orange Money customers can now also get a Virtual Visa card that enables them to securely buy online. This has opened up the world of secure internet transactions and ecommerce,” she explained.
Linah Mohohlo the Governor of Bank of Botswana had this to say: “After all, financial inclusion is about providing an opportunity for the unbanked and financially under-served members of the community, so they are able to participate in the formal financial system, thereby opening avenues for entering the economic mainstream. The realization of the product is also testimony to what can be achieved through joint effort in promoting financial sector development.”
It the time of facing out liquid cash and Africa is not being left behind. It is easy to think that telecommunication companies are planning to take over the banking sector, in mean, look at Kenya Safaricom, its making the banking industry uncomfortable now Orange Botswana has made a stride, hoping to take over the 50 percent of the unbanked citizens.
Now everyone will have a plastic identity, and if not careful banks are set to loose a lot of clients to this, this is just a view. Who would not want to get the same services for a smaller price tag.