MTN and Ericsson (NASDAQ: ERIC) have signed a five-year contract extension to deploy new products and provide Managed Services for Mobile Money services in 13 countries across Africa and the Middle East. The new contract includes deployment of Ericsson Wallet Platform in new markets on top of existing 13 countries. The deployment of Ericsson’s Wallet Platform brings easy-to-use, next-generation mobile financial services to MTN customers.
The strategic partnership between MTN and Ericsson will ultimately introduce Ericsson Wallet Platform across the operator's footprint. MTN Group has Wallet Platform subscribers in 13 countries in Africa. Ericsson is providing MTN a flexible, reliable and efficient m-commerce solution that includes Ericsson Wallet Platform, systems integration, operational support and solution development.
MTN Group Executive for Mobile Financial Services, Serigne Dioum 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.”
The five-year revenue sharing extended agreement includes a host of digital payment and transactional capabilities in line with MTN’s vision.
Ericsson Wallet Platform allows users to store, transfer and withdraw money, paying merchants and utility providers as well as using financial services like savings and loans.
Rafiah Ibrahim, Head of Ericsson Middle East & 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.
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Ericsson enables communications service providers to capture the full value of connectivity. The company’s portfolio spans Networks, Digital Services, Managed Services, and Emerging Business and is designed to help our customers go digital, increase efficiency and find new revenue streams. Ericsson’s investments in innovation have delivered the benefits of telephony and mobile broadband to billions of people around the world. The Ericsson stock is listed on Nasdaq Stockholm and on Nasdaq New York. www.ericsson.com
Launched in 1994, the MTN Group is a leading emerging market operator, connectingsubscribers in 21 countries in Africa and the Middle East. The MTN Group is listed on the JSE Securities Exchange in South Africa under the share code: “MTN”. As of 30 September 2018, MTN recorded 225,4 million subscribers across its operations in Afghanistan, Benin, Botswana, Cameroon, Ivory Coast, Ghana, Guinea Bissau, Guinea Republic, Iran, Liberia, Nigeria, Republic of Congo (Congo-Brazzaville), Rwanda, South Africa, Sudan, South Sudan, Eswatini, Syria, Uganda, Yemen and Zambia.