BNP Paribas and Orange have teamed up to allow customers in Africa to use their handsets to transfer money directly between their bank and mobile accounts.
Initially launching in Côte d'Ivoire, with other countries such as Senegal to follow, the service is designed to combine the relative strengths of BNP Paribas and Orange Money.
By linking their accounts to Orange money, the partners say BNP customers will be able to take advantage of the latter's ability to buy goods and services, pay utility bills and purchase airtime credit via a mobile phone.
In addition, the network of licensed Orange Money distributors will supplement BNP Paribas's branches, increasing the number of cash withdrawal points for customers, particularly in more remote areas.
Meanwhile, Orange Money customers will get the chance to access new banking services such as savings accounts and international bank cards.
Thierry Millet, director, payments and contactless programme, Orange, says: "The synergies of our businesses will make it easier for customers to manage their money, wherever they are in the country and at any time of the day."