- Set to create a global ecosystem that makes sending money person-to-person as simple as sending an SMS
- Addressing needs both in developed and emerging markets where consumers will benefit from getting basic banking and payment services into their phones
- Mobile banking could benefit more than 1 billion people with access to mobile phones but no bank account
Aiming to take a driving role in ongoing industry developments to build a global mobile money ecosystem, Ericsson (NASDAQ:ERIC) launches Ericsson Money Services, a new business line that will offer mobile financial services.
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.
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