Ericsson (NASDAQ:ERIC) today announced a partnership with VeriFone Mobile Money, the leading provider of mobile payment solutions for merchant point of sale (POS).
VeriFone Mobile Money Retail Enablement software suite will be integrated with Ericsson Wallet Platform to expand payment options, including in emerging markets. The global partnership agreement will make it possible for Ericsson’s customers to offer a range of contactless near field communication (NFC) and tap-and-pay services at POS.
Commenting on the partnership, Chris Jones, Chief Executive of VeriFone Mobile Money said, “This partnership will enable Ericsson’s customers to realize the economic benefits of increased volumes of payment transactions, wider mobile money adoption and an improved consumer experience. NFC and contactless payments drive wallet adoption transactions at the merchant, and cashless economies. We are excited about the partnership and look forward to a long-term relationship.”
VeriFone's payment devices are compact, easy to install and easy for both merchant and customer to use. They accommodate a wide variety of card payment options including NFC, mobile wallets, EMV, and contactless payments.
Peter Heuman, VP, Head of M-Commerce at Ericsson says: “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.”
Part of the Ericsson M-Commerce portfolio, Ericsson Wallet Platform allows operators to reuse existing assets and bundle telecom offerings with financial services to create a complete end user solution for m-commerce needs. Ericsson's M-Commerce solutions help banks and operators succeed in the mobile payments market by accelerating the interconnection between the m-commerce ecosystem and the financial world.
Ericsson is driving the next generation of mobile commerce development by connecting banks, operators, money transfer organizations, and payment and internet service providers. This industry-leading work is creating a more flexible, transparent and open financial ecosystem that helps key stakeholders speed the launch of mobile financial services to drive financial inclusion.
Ericsson's M-Commerce solutions help operators succeed in the mobile payments market by accelerating the interconnection between the m-commerce ecosystem and the financial world.