The Ericsson Wallet Platform has been names as the 2015 winner of the AfricaCom Best Mobile Money Service award.
The Mobile Money Service award is given in recognition of excellence in mobile financial services that have shown potential for both scalability and sustainability. This year’s winner, Ericsson Wallet Platform lets users store, transfer and withdraw money using Ericsson’s connected mobile payment network. Today, millions of people across Africa use the service to conduct banking and financial transactions with ease, directly from their mobile devices.
Part of the Ericsson’s Mobile Financial Service 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 mobile commerce needs. Ericsson is the first technology enabler to integrate a charging system and mobile financial services solution.
With its Wallet Platform solution, Ericsson is driving the next generation of mobile financial service development by connecting banks, telecommunications operators, money transfer organizations, and payment and loan providers in Africa. The industry-leading technology is creating a more flexible, transparent and open financial ecosystem that helps key stakeholders speed up the launch of mobile financial services to increasingly enable financial inclusion.
Exclusion from the formal financial system has increasingly been identified as one of the key barriers to a world without poverty. In this context, poverty is more than just a lack of money; it includes a lack of access to the financial instruments through which the poor could improve their lives. Through this platform, Ericsson is extending access to financial services and supporting poverty reduction and prosperity in Africa.
Tumi Chamayou, vice-president: head of strategy, marketing and communications at Ericsson sub-Saharan Africa, says: “Ericsson is a global leader in mobile financial services, our Wallet Platform provides a secure, robust and scalable offering which brings greater mobile money flexibility to traditionally unbanked citizens.”
By uplifting and empowering Africans through technological innovation, Ericsson is reaffirming its position as an advocate for inclusive and sustainable, long-term growth in Africa.