Ericsson and HomeSend partner in mobile financial service

2016-09-27 Categories: Press Releases
  • Ericsson-powered mobile financial services gain access to HomeSend’s growing network of money transfer operators, cash agents and banks in over 200 countries
  • Ericsson Wallet Platform will be HomeSend Certified, expanding remittance reach
  • Mobile money users will now enjoy new levels of remittance flexibility, choice and value

HomeSend and Ericsson (NASDAQ:ERIC) today announced a partnership to simplify and accelerate the adoption of international remittances via mobile across emerging markets. With access to HomeSend’s growing network of money transfer operators (MTOs), cash agents and banks in over 200 countries, millions of Ericsson-powered mobile wallet users globally will benefit from easier and faster international payment services.

The Ericsson Wallet Platform is now certified by HomeSend, a joint venture between MasterCard, eServGlobal and BICS that is changing the way money moves around the world by bridging the gap between financial institutions, non-financial entities and mobile network operators. The HomeSend-Ericsson partnership will give financial service providers a low-cost, simple and fast way to connect the HomeSend global money transfer hub with Ericsson’s mobile money offering around the world. With this, mobile money users can now enjoy new levels of flexibility, choice and value.

Ericsson’s Mobile Financial Services solutions now also include Ericsson Interconnect, the company’s cloud-based financial transactions switching and mediation service, which aims to extend reach to Financial Services providers using any wallet or mobile banking platform.

Stephen Doyle, CEO, HomeSend says: “The partnership represents HomeSend’s continuing commitment to displace cash and facilitate electronic payments, advancing financial inclusion in the new global economy. Millions of new unbanked consumers will gain improved access to digital inflows from friends and relatives, as we continue to advance toward a fully open ecosystem for global mobile money remittances.”

In 2016, the World Bank expects remittances to reach over $ 600 billion, with more than $ 440 billion being sent to developing countries. Being able to reliably, safely and conveniently send and receive money across borders are basic requirements for financial inclusion. The partnership bridges the gap between finance and telecommunication service providers, enabling mobile wallet users to send and receive money from their family abroad through their mobile phones and enables financial institutions to offer their customers the convenience of digital money transfers  – regardless of their location or that of the recipient.

Peter Heuman, Head of Mobile Financial Services, Ericsson says: “By enabling fast, secure integrations to HomeSend’s remittance hub, we are providing growth opportunities for our customers. Integration with the HomeSend Hub connects Ericsson mobile wallet powered financial service providers, and potentially other financial service providers, to a global network of financial institutions and MTOs. This represents a major advance in helping to grow mobile financial services ecosystems whilst supporting financial inclusion.”

NOTES TO EDITORS

For media kits, backgrounders and high-resolution photos, please visit www.ericsson.com/press

Ericsson is the driving force behind the Networked Society – a world leader in communications technology and services. Our long-term relationships with every major telecom operator in the world allow people, business and society to fulfill their potential and create a more sustainable future.

Our services, software and infrastructure – especially in mobility, broadband and the cloud – are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.

With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world’s mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions – and our customers – stay in front.

Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2015 were SEK 246.9 billion (USD 29.4 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.

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Ericsson Corporate Communications
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