Orange and 3V have announced the launch of Orange Cash, a MasterCard reloadable prepaid account available for Apple iOS and Android smartphones on any mobile carrier in Spain.
Orange Cash is the first commercial launch of 3V's instant-issuing Moneybutton™ payments technology service, where virtual accounts can be created in real time for anyone on demand. Customers don't need a bank account, the accounts are free and the MasterCard number in the app can be topped up with cash, debit and credit cards or by bank transfers.
With Orange Cash consumers can make secure online payments, send money for free to other Orange Cash customers, and request a contactless plastic card for use in stores or at ATMs throughout the world.
The launch follows the recent announcement of the upcoming release of DNA Tapakka- a Moneybutton™ service issuing Visa accounts via an app- with DNA, the No. 2 mobile operator in Finland. 3V has previously been selected as technology partner for mobile payments by clients such as Telefónica, for which the highly successful O2 Money Ireland programme was delivered in 2011, and by Visa Europe to provide instant-issuing services for the London 2012 Olympic Games. Moneybutton™ allows for mobile payments programmes to be developed at a lower cost compared to building a programme from scratch, with a white label core service but plenty of customised options to tailor to the market.
CEO of 3V Kieron Guilfoyle said: "Our mission has been to deliver mobile money programmes with mass appeal to our clients, which best suit the needs of consumers today. The success of O2 Money Ireland, now with a considerable market share comparable to financial institutions in the Irish market, proved the case for this approach. We hope Orange Cash will establish Orange as a major player in mobile money in Europe, and help consumers to manage and spend their money safely and conveniently."
"At Orange we continue to invest in innovation to make life easier for people. Therefore, the commitment of the company also extends to the development of new services such as Orange Cash, which provide our customers with better tools to make the most of the opportunities that the information society offers "commented Yves Bazin, director of product development at Orange Spain.