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In a new step forward for mobile money, Ericson, the Swedish multinational provider of communication technology and services, has announced that MTN Swaziland has deployed Ericsson Converged Wallet. This will enable the operator to quickly introduce relevant, new and differentiated mobile financial services.
Mobile money is big business and it is now though still at its early stages no longer the novelty it was a few years back.
The move will see MTN introduce relevant, new and differentiated mobile financial services to more than 275 000 existing MTN Swaziland mobile wallet users and 3,000 agents. The new platform also serves as a mobile money hub solution that will connect MTN’s operations in several countries.
In addition to making financial transactions, subscribers will accumulate loyalty points toward MTN services, initiate loan requests and receive money from a range of access channels.
The announcement forms part of the MTN Group and Ericsson’s plan to introduce Ericsson Converged Wallet across MTN Group’s African and Middle Eastern footprint. This is a large footprint that covers 219 million people in 22 countries across Africa and the Middle East.
Peter Heuman, VP, Head of M-Commerce, Ericsson says: “MTN Group’s deployment of Ericsson Converged Wallet in Swaziland follows a long history of our close collaboration in related areas. We are proud of the important work we are doing together with MTN across the region to bring mobile financial services to millions of people.”
In markets that remain with a large number of unbanked population, mobile money has played a very important role. Speaking about the deal, Ambrose Dlamini, CEO, MTN Swaziland, notes this as the most important reason for the partnership.
“MTN Swaziland offers MTN Mobile Money to bridge the gap between the region’s banked and unbanked populations, providing wide and crucial access to financial services”