Ericsson launches money services
(Thomson Reuters ONE) -
* 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.
The launch of this new business follows two years of thorough preparation and
proof of concept in Europe and Asia. As part of this establishment, Ericsson has
developed an end-to-end solution and associated business and operational model,
fulfilling all necessary regulatory, legal and security requirements, in
cooperation with its operator customers and innovative players in the financial
sector.
Through Ericsson Money Services and its Money Interconnect Service, mobile
operators, financial institutions and other service providers, wishing to extend
their offering with mobile money services, can easily be connected to a real-
time, cross-border, cross-currency switching network.
Ericsson Money Services also offers sophisticated end-to-end solutions that can
be tailored for different market conditions and needs.
"A new market is opening up consisting of consumers whose first meeting with
banks will take place over a mobile phone and who may never own a plastic credit
card. People who may never enter a bricks-and-mortar bank now have the
opportunity to "walk" into a virtual bank using their phone. They will also
benefit from more reasonable fees for routine transactions such as transferring
funds", says Semir Mahjoub, Head of Ericsson Money Services, Ericsson.
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.
Ericsson Money Services is part of Ericsson's multimedia offering.
The Ericsson Money Services portfolio will be available for demonstrations at
the Ericsson Hall (Hall 6, La Fira) during Mobile World Congress (MWC) to be
held in Barcelona February 14 to 17.
Notes to editors:
Our multimedia content is available at the broadcast room:
www.ericsson.com/broadcast_room
Ericsson is the world's leading provider of technology and services to telecom
operators. Ericsson is the leader in 2G, 3G and 4G mobile technologies, and
provides support for networks with over 2 billion subscribers and has the
leading position in managed services. The company's portfolio comprises mobile
and fixed network infrastructure, telecom services, software, broadband and
multimedia solutions for operators, enterprises and the media industry. The Sony
Ericsson and ST-Ericsson joint ventures provide consumers with feature-rich
personal mobile devices.
Ericsson is advancing its vision of being the "prime driver in an all-
communicating world" through innovation, technology, and sustainable business
solutions. Working in 175 countries, more than 90,000 employees generated
revenue of SEK 203.3 billion (USD 28.2 billion) in 2010. Founded in 1876 with
the headquarters in Stockholm, Sweden, Ericsson is listed on NASDAQ OMX,
Stockholm and NASDAQ New York.
www.ericsson.com
www.twitter.com/ericssonpress
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www.youtube.com/ericssonpress
FOR FURTHER INFORMATION, PLEASE CONTACT
Ericsson Corporate Public & Media Relations
Phone: +46 10 719 69 92
E-mail:media.relations(at)ericsson.com
Ericsson Investor Relations
Phone: +46 10 719 00 00
E-mail:investor.relations(at)ericsson.com
Press release (PDF):
http://hugin.info/1061/R/1484586/419828.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Ericsson via Thomson Reuters ONE
[HUG#1484586]
Unternehmensinformation / Kurzprofil:
Datum: 02.02.2011 - 11:49 Uhr
Sprache: Deutsch
News-ID 50962
Anzahl Zeichen: 5632
contact information:
Town:
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Kategorie:
Business News
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