M-Commerce

Ericsson Wallet Platform

Ericsson Wallet Platform provides solutions and services that enable financially regulated services to be carried out using a mobile phone.

Ericsson Converged Wallet is an integrated solution combining the wallet and charging platform. Allows operators to reuse existing assets and bundle telecom and financial services.

Ericsson M-Commerce Interconnect

Ericsson M-Commerce Interconnect enables instant transactions between mobile wallets by connecting operators and other service providers.

Executive summary

The m-commerce industry is predicted to have huge growth, and we are now experiencing the second wave of m-commerce born out of consumer expectations and convenience.

According to World Bank estimates, only 1.5 billion people in the world have a bank account. Simultaneously, over 1.7 billion people who don’t have a bank account will have access to mobile phones in 2012.

Ericsson’s Charging & Billing in One solution already serves 2 billion customers, and we can unlock the potential of the wallet for operators by converting these pre-paid customers to m-wallet accounts.

User experience

With over 50 billion connected devices expected in the world by 2020, mobile devices today have already made our social and professional lives more convenient. Now people are looking for the same convenience, access and choice in their financial lives. Consumers expect a seamless user experience independent of device.

The industry now needs to work towards building a new interoperable financial ecosystem that can reduce the complexities of moving money from person-to-machine and machine-to-machine across international boundaries and across diverse banking systems, levels of financial literacy and regulation.

Operator benefits

With mobile money integrated with the Ericsson Charging System, operators can provide attractive cross-promotion and service bundling, such as voice/data, wallet and value-added services. They can leverage existing operator assets and accelerate the evolution from airtime accounts to mobile wallets.

Electronic-money transactions, including person-to-person money transfers, people-to-business payments, ticketing, metering, real-time charging and much more, will be a foundation for service enablement.

Content providers and retailers are looking to market goods and services directly to consumers and are therefore interested in different payment options. This can open up a new role for operators.

Some success factors are scalability, security and performance.