Ericsson and Mastercard have announced a collaboration to integrate the Ericsson Fintech Platform with Mastercard Move, Mastercard’s money movement solutions portfolio.
The integration combines Ericsson’s mobile financial services platform with Mastercard Move to support telecom operators, banks and fintechs in expanding digital wallet capabilities and launching new payment services.
The collaboration is also intended to improve access to financial services for unbanked and underbanked populations.
Ericsson’s platform offers pre-integrated APIs, cloud-native deployment and compliance-ready infrastructure.
These features simplify integration with Mastercard Move, reduce operational complexity and allow providers to deploy new payment services more quickly.
Mastercard Move supports domestic and cross-border money transfers in more than 200 countries and territories. It connects over 17 billion endpoints and enables transactions in 150 currencies.
Ericsson’s fintech platform operates in 22 countries. It serves more than 120 million active users and processes over 4 billion transactions each month across digital wallets, payments, remittances and lending.
The initial rollout will begin in the Middle East and Africa, where demand for mobile money, remittances and interoperable payment systems is growing.
“Mastercard Move enables fast, secure and transparent transfers for individuals and businesses worldwide,”
said Pratik Khowala, global head of Transfer Solutions at Mastercard.
“Integration with Ericsson’s fintech platform allows service providers to scale payment services and reach underserved communities.”
Pavan Bachwal, head of Mobile Financial Services at Ericsson, said the collaboration would help customers deploy payment solutions more efficiently.
“By combining our platform with Mastercard Move, customers can bring secure payment services to market more quickly.”
Featured image credit: Edited by Fintech News Switzerland, based on image by user13403560 via Freepik
