Orange wants its piece of the pie in mobile payment
Orange is launching into mobile payment with its new application “Orange Cash»Launched in partnership with Visa. Objective: take a position on new payment solutions and capture the 106 billion dollars in transactions expected for 2020, according to a Future Market Insights study. Orange’s solution offers NFC (contactless payment) technology for use with merchants and web payment. The service, which is part of the group’s “Essential 2020” plan, will be rolled out nationally, after two years of experimentation.
The offer is reserved for Orange, Sosh or M6 Mobile subscribers who have an NFC SIM card in their smartphone. Orange will also deploy a “smart shopping” application by offering geolocated offers from partner merchants. Two payment methods are available in 4 to 6 steps, for purchases under and over 20 euros. “Orange Cash is a prepaid account, it must always be credited, by credit card directly in the application, by bank transfer, or by recharge coupon in the application”, details the group on the site.
Orange had already positioned itself on the transfer of money with “Orange Money”, very present in Africa, and which has 13 million users. It is now also possible to receive and send money with Orange Cash. However, you must “complete a secure form” in which you must “enter a code for use and the data necessary to credit the account”. This service is billed at 0.79 euros.
Facing the French are many solutions already deployed by Internet giants such as Amazon, PayPal, ApplePay and AliPay (Alibaba). He also has in front of him the start-ups created in the FinTech sector and which offer payment and transfer on mobiles.
Orange is betting on NFC and paying on the Web with a virtual bank card to avoid entering its bank details on the Internet. WEB / WAP technology must also become the dominant use, according to the IMF study. The NFC must, him, see a growth of 46% in volume by 2020. In 2014, transactions on mobile represented 14 billion dollars in the world, according to Future Market Insights.
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