NextBillion - An Initiative of the William Davidson Institute at the University of Michigan

Thursday, June 11, 2015

Kit giant Ericsson has announced a partnership with Verifone Mobile Money to offer its customers a broader range of mobile payment tools for emerging markets.

Verifone Mobile Money is a joint venture between Verifone and youtap! to provide mobile money solutions for of mobile operators in emerging markets. The Ericsson Wallet Platform is a white-label mobile wallet solution for its operator customers.

“This partnership will enable Ericsson’s customers to realize the economic benefits of increased volumes of payment transactions, wider mobile money adoption and an improved consumer experience,” said Chris Jones, Chief Executive of VeriFone Mobile Money. “NFC and contactless payments drive wallet adoption transactions at the merchant, and cashless economies. We are excited about the partnership and look forward to a long-term relationship.”