Ericsson’s partnership with Eurogiro will cover more than 500,000 branch offices all over the world.
The Ericsson M-Commerce Interconnect service is designed to allow multiple transaction paths between different sending and receiving devices and destinations. It will provide an interconnect path to and from banks and other payment service providers, money transfer organizations, mobile network operators and mobile handsets.
By creating one technical and commercial interface, the Ericsson M-Commerce Interconnect service makes it possible for a mobile device to receive a payment from a payment service provider and immediately transfer that payment to a bank.
Announcing the Eurogiro partnership, Björn Engström, Head of M-Commerce, Ericsson, said: "Increasing the interoperability between the varied and growing number of mobile money transfer solutions through our M-Commerce Interconnect service will give our operator customers the stability and security these financial transactions deserve and demand.
"Our partnership with Eurogiro allows us to offer real-time payment routing, reliable and secure foreign exchange, and world-class banking clearance and settlement all within a strict regulatory environment."
Welcoming the partnership, Eurogiro CEO Michel Stuijt says: "By partnering with Ericsson, Eurogiro members can add to their client offering a reach to mobile wallets with the secure and cost-efficient processing for which Eurogiro is renowned. This is fully in line with our strategy to enable our members to connect to any major payment infrastructure via Eurogiro. The mobile payments market is growing rapidly, and our partnership offers a trusted global partner network."
Ericsson’s m-commerce services portfolio is designed to unlock the potential of the mobile wallet, fast-track operators’ time to market for launching mobile financial services, and support the rapid adoption of m-commerce by their subscribers.
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Eurogiro, founded in 1993 is a commercial company and a collaboration whose aim it is to develop worldwide business relating to the cross-border payments of both retail and wholesale financial services for the benefit of its members. The Eurogiro community of financial institutions is the driving force behind all business developments. Eurogiro has evolved from a platform of postal organizations and banks into a trusted partner on a global level, where our members are processing over 30 million cross-border payments a year under the Eurogiro umbrella, reaching more than 500,000 branches and 4 billion people in more than 50 countries.
Eurogiro has its head office in Copenhagen, Denmark and a branch in Singapore.
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