Ericsson partners with VeriFone Mobile Money in emerging markets

Ericsson partners with VeriFone Mobile Money in emerging markets

Ericsson is to partner with VeriFone Mobile Money to integrate mobile money software for emerging markets.

Ericsson Wallet Platform will be integrated with VeriFone Mobile Money Retail Enablement software suite to expand payment options. 

The agreement is said to enable Ericsson’s customers to offer a range of contactless near field communication (NFC) and tap-and-pay services at point-of-sale. 

VeriFone’s payment devices accommodate a range of card payment options including NFC, mobile wallets, Europay MasterCard Visa (EMV) and contactless payments. Verifone Mobile Money is a joint venture between Verifone and mobile money company Youtap! 

The partnership will allow Ericsson to realise the economic benefits of more payment transactions, wider mobile money adoption and an improved consumer experience, according to Chris Jones, chief executive of VeriFone Mobile Money.

Peter Heuman, VP of head of m-commerce at Ericsson, said: “Ericsson’s m-commerce work includes a primary focus on financial inclusion efforts that bring greater mobile money flexibility to traditionally unbanked citizens, especially in emerging markets. Our partnership with VeriFone Mobile Money represents continued advancement of these efforts, helping mobile subscribers with more choices in where and how they can shop.”