Ericsson Fintech Arm Targets 50% of Africa’s Mobile Wallets
- Ericsson technology now enables 10% of African mobile payments
- Michael Wallis-Brown runs Ericsson’s Mobile Financial Services
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Ericsson AB, best known as one of the world’s biggest makers of 5G networks, is growing a financial technology business that enables mobile payments across the developing world.
Flying somewhat under the radar, the Swedish company’s software underpins more than one in five mobile transactions globally today, serving over 400 million mobile wallet accounts in 24 countries. That makes Ericsson’s one of the largest white-label platforms in the world.