Ericsson takes stake in Japanese online bank

Ericsson takes stake in Japanese online bank

Swedish telecoms equipment firm Ericsson has taken an equity stake in a new online banking venture in Japan. The eBank service, established by trading house Itochu and set for launch in April, is to use Ericsson's Jalda online payments system.

Under the agreement, eBank will implement Ericsson's EHPT Safetrader Internet server and Jalda payments system. Jalda is an open system enabling payments to be made from any Internet-connected device, including mobile handsets and PCs.

"By establishing Jalda as an Internet payment method in Japan, eBank and Ericsson will together be able to offer Japanese consumers a way to purchase goods and services from any Internet terminal, such as a PC or a mobile phone, with total security and integrity," states Morgan Bengtsson, president of Ericsson in Japan.

Ericsson has not disclosed details of its investment in eBank but says the capital involved is small.

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