Ericsson and Verifone partnership aims to increase NFC adoption

Verifone Mobile Money has joined forces with Ericsson in a global partnership, making it possible for Ericsson’s merchants to use NFC technology and tap-and-pay services.

Part of its m-commerce portfolio, Ericsson’s Wallet Platform will be integrated with Verifone’s Retail Enablement Software Suite, as both firms look to increase the use of contactless payments, particularly in emerging markets.

‘‘This partnership will enable Ericsson’s customers to realise the economic benefits of increased volumes of payment transactions, wider mobile money adoption and an improved consumer experience. NFC and contactless payments drive wallet adoption transactions at the merchant, and cashless economies,’’ said Chris Jones, chief executive of VeriFone Mobile Money.

Ericsson’s wallet platform allows operators to reuse existing assets with financial services to create an end user solution for m-commerce needs. The Swedish firm’s m-commerce platform accelerates the interconnection between the m-commerce ecosystem and the financial world.

‘‘Ericsson’s M-Commerce work includes a primary focus on financial inclusion efforts that bring greater mobile money flexibility to traditionally unbanked citizens, especially in emerging markets,’’ commented Peter Heuman, VP, head of M-Commerce at Ericsson.

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