Orange Cash was first revealed by Marketing Week in July last year.
Orange is targeting students, holiday makers and first time bank card holders with what it claims is the UK’s first major contactless prepaid payment card.
The Orange Cash initiative combines a prepaid payment card with a loyalty scheme for the mobile network.
Customers can earn 1 point per £1 spent using the card, which they can then redeem against a range of Orange rewards such as Pay As You Go Orange texts, airtime, credit or Orange shop vouchers.
It is being launched in partnership with MasterCard’s PayPass Contactless technology which allows customers to make purchases under £15 in participating retail outlets.
Orange says it can be used at more than 30 million locations in the UK and abroad, as well as online.
The card costs £5 and can be loaded with up to £5,000 via PayPoint top up points, Post Offices, Orange stores and online.
Orange Cash customers will be able to manage their account online and via an Orange Pay as You Go mobile phone.
It follows the launch of the Orange contactless credit card in 2010 and this year’s roll out of a commercial contactless mobile payments service on Orange.
Earlier this month rival mobile network O2 outlined its plans to launch a mobile contactless payment service later this year and operate as a financial services provider without the need to partner with a bank.