The Romanian subsidiary of French telecom group Orange announced that it just expanded the functionality of its Orange Money app by making possible instant currency exchange at no fee for 18 currencies.

Orange also wants to make the application available to users in other telecom networks by the end of this year.

The Orange Money service was launched in 2017 in Romania, and, since then, the company has added new features such as IBAN in local currency in 2018, or virtual cards and NFC payments in 2019.

Compared to 2018, in 2019 the number of Orange Money customers increased by 40% and the number of active users increased by 258%.

At this time, Orange Money is only available to Orange customers.

“The market for foreign exchange and transfers is not yet flexible enough, and a bank loan in a currency other than the local currency or sending money to Romania or other countries often means extra accounts and extra commissions. For these types of needs, Orange Money offers today the easiest payment experience through the mobile application,” said Orange Money Romania CEO Haris Hanif.

(Photo courtesy of the company)

editor@romania-insider.com