STOCKHOLM, – Ericsson and Mastercard are collaborating to streamline global money movement, aiming to expand digital wallet capabilities and financial inclusion for underserved populations. The partnership, announced today, integrates Ericsson’s Fintech Platform (Mobile Financial Services) with Mastercard Move, Mastercard’s suite of money movement solutions.
The collaboration seeks to simplify access to advanced payment technologies for telecom service providers, fintech companies, and banks. By leveraging Ericsson’s pre-integrated application programming interfaces (APIs), cloud-native deployment, and compliance infrastructure, the integration with Mastercard Move is designed to reduce the technological complexities and operational hurdles often associated with launching new payment services. This, in turn, is expected to accelerate time-to-market for innovative financial products.
The core objective is to strengthen digital ecosystems in both emerging and developed markets. Mastercard Move’s reach extends to 200 countries and territories, connecting over 17 billion endpoints and supporting transactions in 150 currencies. Ericsson’s Fintech platform currently operates in 22 countries, serving more than 120 million active users and processing over four billion transactions monthly across digital wallets, payments, remittances, lending, and loyalty programs.
Financial inclusion is a central tenet of the agreement. The partnership specifically targets unbanked and underbanked communities, offering a pathway to greater participation in the digital economy. The initial rollout will focus on the Middle East and Africa, regions where demand for mobile money, remittances, and interoperable payment systems is particularly strong.
“Mastercard Move empowers payment service providers to shape the future of money movement – delivering fast, secure and transparent transfers for individuals and businesses worldwide,” said Pratik Khowala, Global Head of Transfer Solutions at Mastercard. “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.”
Ericsson views the partnership as a significant step forward in its mobile financial services strategy. Pavan Bachwal, Head of Mobile Financial Services at Ericsson, stated, “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.”
The move comes as the financial technology landscape continues to evolve, with increasing emphasis on digital payments and financial accessibility. E& money, a fintech arm of e& life, partnered with Mastercard in to launch a prepaid card aimed at driving financial inclusion in the UAE, enabling payments both domestically, and internationally. This earlier collaboration highlights a broader trend of established players seeking to expand digital payment options and reach wider customer bases.
Beyond the UAE, initiatives to broaden financial inclusion are gaining traction across Africa. Mastercard’s partnership with MTN, as noted in recent fintech reports, demonstrates a commitment to leveraging global payment networks to enhance mobile payment solutions and foster digital innovation on the continent. This aligns with the broader goals of the Ericsson-Mastercard collaboration, which seeks to replicate similar successes in other regions.
The integration of Ericsson’s platform and Mastercard Move is expected to not only facilitate new revenue streams for participating companies but also to contribute to the overall growth of the digital financial ecosystem. By simplifying the process of launching and scaling payment services, the partnership aims to encourage greater innovation and competition within the sector. The focus on interoperability and cross-border payments is particularly significant, as it addresses a key challenge for individuals and businesses operating in a globalized economy.
Ericsson, a long-standing provider of communication infrastructure, has been increasingly focused on expanding its presence in the financial services sector through its Fintech platform. This platform provides a range of services, including digital wallets, payment processing, remittances, and lending, all underpinned by enterprise-grade security measures. Mastercard, a global leader in payment technology, brings its extensive network and expertise in payment processing and security to the collaboration.
The success of this partnership will likely depend on its ability to navigate the complex regulatory landscape surrounding financial services and to address the specific needs of different markets. However, the combination of Ericsson’s technological capabilities and Mastercard’s global reach positions the collaboration as a potentially significant force in the ongoing evolution of the digital financial ecosystem.
