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Ericsson launches money services

02/10/2011   •   Profession news
Ericsson launches money services

Ericsson launches Ericsson Money Services, a new business line that will offer mobile financial services. The launch of this new business follows two years of thorough preparation and proof of concept in Europe and Asia. As part of this establishment, Ericsson has developed an end-to-end solution and associated business and operational model, fulfilling all necessary regulatory, legal and security requirements. Mobile payments and person-to-person money transfers are forecasted to become some of the most-used mobile applications in many countries in the next two or three years. Mobile money will become a foundation for person-to-machine and machine-to-machine connections by 2020, when Ericsson envisions a world with more than 50 billion connected devices. Ericsson has a significant role to play as these trends are realized. The Ericsson Money Services portfolio will be available for demonstrations at the Ericsson Hall (Hall 6, La Fira) during Mobile World Congress (MWC) to be held in Barcelona February 14 to 17.