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- Collaboration simplifies access to advanced money movement solutions for telecom service providers, fintechs and banks
- Strengthens digital ecosystems across emerging and developed markets
- Increases financial digital inclusion for unbanked and underbanked communities
Ericsson (NASDAQ: ERIC) and Mastercard today announce a collaboration to reshape how money moves across the world. By integrating the Ericsson Fintech Platform (Mobile Financial Services) with Mastercard Move - Mastercard's portfolio of money movement solutions - the collaboration will empower telecom service providers, banks, and fintechs to expand digital wallet capabilities, launch new payment services, and reach unbanked or underbanked communities.
Ericsson's pre-integrated application programming interfaces (APIs), cloud-native deployment and compliance-ready infrastructure simplifies fintech connectivity to Mastercard Move.
These capabilities reduce technology complexity, lower operational barriers (by simplifying integration, deployment and compliance) and accelerate time to market for new payment services - all aimed at catalyzing innovation and growth in the sector.
The Ericsson-Mastercard collaboration transforms how financial services are built, delivered and scaled. It creates new revenue streams and strengthens digital ecosystems across emerging and developed markets.
Financial inclusion and accessibility are key focuses of the collaboration. Mastercard Move enables money movement across 200 countries and territories, connecting more than 17 billion endpoints, and supporting transactions in 150 currencies.
Ericsson's fintech platform operates in 22 countries, serving more than 120 million active users and processing more than four billion transactions every month across digital wallets, payments, remittances, lending, and loyalty services - all backed by enterprise-grade security.
Mastercard Move's integration into Ericsson's Fintech Platform aims to accelerate the adoption of digital payments and expand participation in the digital economy. The global rollout will begin in the Middle East and Africa, where demand for mobile money, remittances and interoperable payment services is particularly strong.
Pratik Khowala, Global Head of Transfer Solutions, Mastercard, says: "Mastercard Move empowers payment service providers to shape the future of money movement - delivering fast, secure and transparent transfers for individuals and businesses worldwide. By integrating with Ericsson's fintech platform, we're opening new pathways for telecom operators, financial institutions and fintechs to scale innovative payment services, reach underserved communities and unlock fresh revenue streams. This collaboration not only meets the rising demand for digital cross-border payments, but also accelerates progress toward a more connected, inclusive and dynamic global digital economy."
Pavan Bachwal, Head of Mobile Financial Services, Ericsson, says: "Joining forces with Mastercard marks a bold step toward the future of money movement. Combining Ericsson's trusted, scalable platform with Mastercard Move enables our customers to launch secure and efficient payment solutions faster than we ever have before. Together, we are driving financial inclusion, accelerating innovation, and creating new growth opportunities across the globe."
Related link:
Ericsson Mobile Financial Services
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ABOUT Ericsson:
Ericsson's high-performing, programmable networks provide connectivity for billions of people every day. For 150 years, we've been pioneers in creating technology for communication. We offer mobile communication and connectivity solutions for service providers and enterprises. Together with our customers and partners, we make the digital world of tomorrow a reality. www.ericsson.com
ABOUT MASTERCARD:
Mastercard powers economies and empowers people in 200+ countries and territories worldwide. Together with our customers, we're building a resilient economy where everyone can prosper. We support a wide range of digital payments choices, making transactions secure, simple, smart and accessible. Our technology and innovation, partnerships and networks combine to deliver a unique set of products and services that help people, businesses and governments realize their greatest potential. www.mastercard.com
Media Contact: Giang Nguyen, Mastercard, Giang.Nguyen@mastercard.com
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SOURCE Ericsson
