November 17, 2013 became a historic date in the young mobile financial industry and the Ericsson m-commerce team was very much part of writing this history.
It's Time for Open Money
The freedom to send, spend and receive money with a mobile phone is quickly becoming an essential part of life for billions of people. It's a cornerstone of the Networked Society, a strong driver of ubiquitous access to mobile money, and a great business opportunity. It also calls for change. A change where existing payment networks are connected and interoperable.
We drive this change of making money more open by developing secure, flexible platforms that help build an interconnected and transparent financial ecosystem.
We believe that when money is open, everyone will benefit.
The Call for Change Blog
M-commerce is a novel concept in Vietnam. There is little knowledge about using mobile wallets or mobile financial services, but there is a lot of interest in adopting such services among the increasingly connected population.
A converged wallet enables the operator's charging system accounts to expand into an open loop financial system. This makes it possible for the consumer to use the promotions, bonuses, and redeem cross the different services.
Earlier this year, I had the opportunity to embark upon an explorative trip this time to Mexico City and São Paulo. I think that deep down I was half expecting to hear some similar statements to those I had heard in Sub-Saharan Africa. What I heard in Central and Latin America was a rather different story…
When SMS was launched, we went from ‘call me’ to ‘text me’. Will we then see the day when we use ‘cash me’ to tell someone to transfer money or pay for a service?