One of the Dominican Republic’s biggest banks, Banco Popular, and network provider Orange Dominicana have launched a mobile payment called "Orange M-peso".
As its name suggests, Orange M-peso mimics the highly successful M-pesa by allowing customers to make money transfers directly from their mobile phones.
Go deeper with GlobalData
M-peso users will have a virtual prepaid account with Banco Popular, which is linked to their Orange mobile number.
The service can be used by those with feature phones or smartphones and can be activated free of charge by Orange customers.
Customers can deposit and draw out money at Orange stores and will also soon be able to withdraw money from Banco Popular ATMs.
Customers can also send money to other users of Orange M-peso, make mobile account top-ups and pay Orange bills from their mobile phones.
Orange, France’s biggest network provider, is currently in the process of selling its Dominican arm to Altice, a telecoms investor.
The French telco agreed to sell Orange Dominicana for $1.4bn.
Related articles:
Citi launch new m-banking solution
Wells Fargo targets LatAm remittances
Vodafone to provide mobile money service in Goa
