Ahead of Mobile World Congress 2012, Ericsson (NASDAQ: ERIC - News) unveils its new extended suite of m-commerce solutions and services, designed to accelerate access and interconnection between the emerging m-commerce eco-system and the financial world to fast track the next generation of mobile financial services.
Ericsson is launching two new services within its m-commerce portfolio - Ericsson Converged Wallet and Ericsson Merchant Wallet. Both new services will be showcased at Mobile World Services in Hall 6 in addition to Ericsson Wallet Platform and Ericsson M-commerce Interconnect.
Ericsson M-commerce services portfolio is designed to provide the world's leading consumers brands with the infrastructure and solutions needed to create and connect m-wallets across a global m-commerce eco-system. The portfolio of services will speed time to revenue, increase adoption and stickiness, cost efficiency and performance for mobile network operators, financial institutions, internet gaming companies and retailers.
· Ericsson Converged Wallet can unlock the potential of the m- wallet for operators and financial institutions by converting the accounts of over a billion consumers already on the Ericsson Billing & Charging Solution to m- wallets. Some 1.6 billion people worldwide who are already using a type of 'first generation' m-wallet voice accounts (pre and post-paid accounts), can now be easily converted to 'next generation' m-wallets through Ericsson Converged Wallet
· The Ericsson Merchant Wallet service will help provide large Internet brands and merchants with a solution for payments including payments; virtual currency transactions, loyalty points.
· Ericsson Wallet Platform delivers software solutions and hosted services to enable secure and convenient mobile financial services, e.g. person to person money transfer, bill payment, merchant payments and micro loans
· Ericsson M-commerce Interconnect acts as an eco system hub for money transfer; payment transactions and services between subscribers of Mobile Network Operators and other service providers (e.g. banks, money transfer organizations, payment service providers, Internet service providers)
The new services within Ericsson's m-commerce portfolio follow on from the launch of Ericsson M-commerce Interconnect showcased at MWC 2011. Following last year's event the Interconnect service went live in the Philippines connecting through partnerships with operators Globe Telecom (GCash) and Smart Communications (Smart Money) m-wallet schemes.
Adam Kerr, Head of M-commerce, Ericsson, says: "This is an exciting time for the m-commerce industry, which is expected to process over USD 800 billion globally by 2016*. At Ericsson M-commerce we are in a unique position to work with strategic partners to kick-start the next wave of growth of the M-commerce eco-system."
"Right now we are very focused on providing services that give our partners across the eco-system a fast route to provide their consumers with more m-wallet and platform independent services and greater payments choice. Through our enhanced suit of services we will enable partners to get closer to their customers through differentiated wallet services that connect and add value to their consumers," he adds.
· Weighted statistic from Ericsson based on a consolidated view comprising of analysts and Ericsson calculations