MTN SA selects Ericsson for mobile money platform

South Africa-based telecom operator MTN SA is planning to deploy Ericsson's converged wallet platform for its mobile money service.

MTN SA selects Ericsson for mobile money platform

The move is expected to grow its value-added data products, reported BDlive.

Ericsson’s mobile money platform, Converged Wallet, is an integrated mobile wallet solution that allows operators to combine telecom offerings with financial services to create a complete end-user solution for mobile commerce.

Ericsson has already supplied its mobile wallet solution across MTN’s African and Middle Eastern footprint including Swaziland, Rwanda and Uganda.

MTN has rolled out its mobile money service in 2012 in partnership with Tyme. MTN SA had recorded 2 million mobile money customers at the end of June.

The overall MTN group had 32.4 million registered mobile money customers in the six months to June 2015, up 45.8% compared to the same period a year ago.

MTN Group CEO Sifiso Dabengwa said that the move is part of the company’s focus on growing the e-commerce and mobile money operations adding that it would be looking at creating an ecosystem to allow a payment method for other internet services.

“We have made a conscious decision not to make aggressive investments. But over the coming months you will see interesting things,” said MTN SA CEO Mteto Nyati.