In the Networked Society, we use mobile technology for just about everything. Yet, three quarters of all payments around the world are still made in cash. Because handling all our small, everyday transactions is too complex and expensive for our current financial systems, and for the people using them.
At Ericsson, we believe that sending money, from anyone to anything and anywhere in the world, should be as easy as sending a text message. That’s why we are creating the world’s most connected, scalable and secure mobile wallet. And that’s why we encourage and drive collaboration between operators, banks and service providers to create an open money ecosystem, with great business opportunities for all.
In fact, it’s what we’ve always done with calls, texts, sites and apps. We know how to manage billions of small transactions, across the globe, all in real time. Why should money be any different? Let’s make it open.
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A report from Ericsson ConsumerLab has explored the possibilities of widespread Mobile Financial Services adoption in emerging Asia. The countries included in the study were Bangladesh, Indonesia and Vietnam.
The report highlights how mobile phones create and promote connectivity in Sub-Saharan Africa from the consumer perspective, covering topics regarding smartphones, the internet, financial services, and applications.
Ericsson consumer research shows that the majority of people in Latin America who are not using Mobile Financial Services services today would be interested in using such services in the future. Convenience and security are important drivers for Mobile Financial Services in the region.
The mobile phone brought a new dimension to the economic life of Sub-Saharan Africa. A new ConsumerLab report examines how this dynamic region is embracing a new generation of m-commerce services.
2.1 billion subscriptions served by Ericsson Charging and Billing (BSS)
7+ billion mobile subscriptions globally (Source Ericsson Mobility Report)
2 billion adults are financially excluded (Source World Bank)