The deal will see the deployment of new products and provide managed services for mobile money services.
It includes Ericsson Wallet Platform, which will bring easy-to-use, next-generation mobile financial services to MTN customers.
Ericsson Wallet Platform allows users to store, transfer and withdraw money; pay merchants and utility providers; and use financial services such as savings and loans.
Serigne Dioum, MTN Group Executive for Mobile Financial Services, says: "A stable, secure and reliable platform is one of the fundamentals to building successful mobile financial services.
“Through this partnership we look forward to working with Ericsson to further enhance our value proposition and expand our ecosystem.”
Rafiah Ibrahim, Head of Ericsson Middle East and Africa, says: "This breakthrough deployment is yet another example of MTN's ongoing commitment to innovation and customer satisfaction.
"Ericsson Wallet Platform helps MTN offer the convenience of m-wallet financial services across its entire subscriber base."
Part of the Ericsson Digital BSS portfolio, Ericsson Wallet Platform is an integrated mobile wallet solution that combines Ericsson Wallet Platform and Ericsson Charging.
It also allows mobile operators to reuse existing assets and bundle telecom offerings with financial services to create a complete end user solution for m-commerce needs.
For further details: read the press release