Ericsson (NASDAQ: ERIC) and Trriple have established a strategic partnership to provide managed mobile wallet solutions for the United Arab Emirates' banking and smart city sectors.
The multi-year collaboration supports the country’s Smart Government initiative, which aims to make more than 2,000 government services available via smart platforms such as mobile devices.
Trriple provides the only digital platform in the UAE that addresses the entire value chain of the country’s mobile financial services sector. The company has established a banking-centric mobile wallet solution that conforms to its banking partners’ guidelines and a growing number of government and industry contracts. Ericsson Wallet Platform enhances Trriple services by integrating and managing an open platform that allows users to store, transfer and withdraw money using a mobile device.
Commenting on the partnership, Mr. Abdirizak Ibrahim Salah, Cofounder & Chief Operating Officer, Trriple, says: “Trriple is as committed as Ericsson to providing the UAE and the Gulf region with a first-of-its-kind, next-generation mobile wallet platform that enables secure and convenient everyday payments, saving consumers time and money with a special focus on financial inclusion for the unbanked. In line with the UAE's vision for smart and sustainable cities, Trriple is looking forward to launching by the end of 2016 and continuing to grow with Ericsson in the region and beyond.”
Ericsson’s mobile financial services are secure, robust and scalable to drive customer and partner growth throughout the m-commerce eco-system. Deployed globally, Ericsson’s pioneering offerings empower service providers and banks to reduce related costs, attract new customers, drive customer loyalty and increase top of the line financial transactions.
Peter Heuman, Vice President and Head of M-Commerce, Ericsson, says: ”Today’s business environment is driven by change, with broadband, mobility and cloud reshaping value chains, digitalizing business models and creating possibilities that were previously unimaginable. A part of this change, mobile financial services is becoming a key economic differentiator and a main driver in today’s world. Our partnership with Trriple will allow us to leverage on mobile financial services for consumers, and the UAE’s banking and smart city sectors.”
Part of the Ericsson M-Commerce portfolio, Ericsson Wallet Platform makes sending money as easy as sending a text and receiving money as simple as answering a phone call. With four times as many mobile subscribers in the world than people with bank accounts, Ericsson Wallet Platform aims to bring convenient banking to billions around the globe.
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