- Millicom's Tigo has commercially and operationally put Ericsson Wallet Platform in service to deliver Tigo Cash mobile financial services in West Africa
- Tigo offers the ability to make payments, store, transfer and withdraw money using a mobile device
Ericsson (NASDAQ:ERIC) today announced that Tigo Senegal has launched Tigo Cash service based on the Ericsson Wallet Platform Solution. The rollout brings simple, mobile financial services to Tigo Senegal's subscribers throughout West Africa, including those who do not have access to traditional banking services. Ericsson Wallet Platform supports the launch of services that makes sending money as easy as sending a text and receiving money as simple as answering a phone call.
Tigo, which is owned by Millicom Group, is aiming for Tigo Cash to become the preferred payment method in Senegal. Continued uptake of the service supports key objectives around boosting customer loyalty, developing new revenue opportunities, improving subscriber satisfaction and reducing churn.
Diego Camberos, Managing Director of Millicom (Tigo) in Senegal, says: "Mobile financial services are highly important to our subscribers and to drive continued success, it was important for us to speed up an easy to use, secure and reliable offering to market. Ericsson has been an important partner for us in launching Tigo Cash to our entire subscriber base, ensuring that we're able to scale to meet the high demand we anticipate as sign-ups continue to increase."
Ericsson Wallet Platform is part of Ericsson M-Commerce portfolio available for mobile operators as well as financial institutions, used to deploy mobile money services that subscribers use to make payments, store, transfer and withdraw money. The Ericsson Wallet Platform is built on a highly secured, real-time platform with open API's, integrated security and functionality to meet local compliance rules and regulations.
Peter Heuman, VP, Head of M-Commerce, Ericsson, says: "Ericsson is helping Tigo and its partners make mobile money for the unbanked and underserved a reality in West Africa. Beyond this important deployment, we continue to work with operators and financial institutions globally to support the fast rollout of mobile financial services that transform how local businesses interact with customers, and provide a safer way to store, send and receive money."
Ericsson provides professional services such as business planning, compliance, integration and process consulting from its Global Competence Hub and the Global Service Centers located around the world. Ericsson forms strategic m-commerce partnerships with its customers to support the complete life cycle of mobile financial services, establish new business models and build value together to evolve our society, locally and globally.
Ericsson is driving the second generation of mobile commerce development by connecting banks, money transfer organizations, mobile payment and mobile wallet service providers. Ericsson is focused on forming a more flexible and transparent financial ecosystem that makes it easier for mobile operators, financial institutions and other service providers to quickly launch mobile financial services and realize a shorter time to revenue.
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