Ericsson Money Services brings connected mobile money to Europe

Ericsson Money Services launches the first of a number of new mobile money services, Ericsson Money, across seven European countries. Mobile phone users in the UK, France, Germany, Italy, Spain, Poland and Sweden can sign up from today to send and receive money to and from friends and family and withdraw cash.

This is the first step toward bringing a full suite of convenient, cost-efficient, secure and instant mobile financial services to consumers globally.

As money transfers become more like mobile communication, our mobile phones will become central to not only our social lives, but also our financial lives. After easily creating a safe and secure mobile wallet online, users will be able access their money safely from the Ericsson Money network through their phones.

Ericsson Money today enables people to send and receive money instantly and withdraw cash - such as parents to their children at university or on their travels using the handset as the access point to their personal mobile wallet.

Transferring money to family and friends who are just around the corner, at a café, or even in a different country will now be as quick and easy as sending a text message.

Ericsson Money Services plans to make Ericsson Money available to the rest of Europe soon. In the near future consumers will be able to connect with other similar services globally (via Ericsson Money Interconnect), making sending money as quick, easy and natural as sending a text message a reality for people around the world.

Before too long, it will be possible to make secure bill payments, shop online and pay in retail stores instantly through Ericsson.

Semir Mahjoub, Ericsson Vice President and President of Ericsson Money Services, says: “Ever since mobile phones went mainstream they have become the backbone of our social lives. We text, we tweet, we instant message, we connect via social networks for millions of hours per month. For many people today, accessing information and services on the mobile is as instinctive as taking the next breath.”

“To Ericsson, it’s logical that as connected consumers in every other part of our lives we should have the same freedom of choice, access and availability in our financial lives. Simply having a friend’s phone number, irrespective of where he or she is in the world, will open up access to financial services and mobile money in a new way. It’s an exciting time for a new industry and we are really looking forward to accelerating the pace at which individuals around the world can benefit from globally connected money services in their everyday lives by making money transfer more like mobile communication,” Mahjoub concludes.