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Extended Ericsson and MTN partnership to financially empower millions across Africa | Fintech Finance News

January 9 2024

Extended Ericsson and MTN partnership to financially empower millions across Africa

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Ericsson (NASDAQ: ERIC) and the MTN Group (JSE: MTN) have strengthened their partnership to enhance mobile financial services and financially empower millions of citizens across Africa. The partnership is set to broaden the scope of financial inclusion from first-time users to high-end business applications, utilizing MTN’s Mobile Money (MoMo) service on the Ericsson Wallet Platform.

The comprehensive suite of services will provide MTN’s customer base across Africa with access to a world-class mobile connectivity-based financial ecosystem.

In addition to ramping up MTN’s goal of advancing financial inclusion for the unbanked, the service provider will offer advanced financial services to address the rapidly evolving digital financial needs of individuals and enterprises.

Powered by the Ericsson Wallet Platform, MTN Mobile Money enables individuals and businesses to conduct secure and convenient banking and payment transactions with ease, directly from their mobile devices.

MTN MoMo customers can securely manage funds, pay merchants and utility providers, and access loans and insurance services with ease and affordability, promoting financial freedom and stability.

The platform places a strong emphasis on financial technology (FinTech), with focus areas including the growth of merchant and e-commerce payments, facilitating national and international money transfers among family members and others (remittance services), advancing banking solutions (BankTech), and offering insurance services (InsurTech).

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  2. Performativ Raises $14m Series A Led by Large European Financial Infrastructure Provider

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  3. Temenos Named a Leader in Digital Banking Engagement Platforms

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  4. Mehrwerk Partners With bolttech to Expand Embedded Services and Insurance Offerings in Germany and Beyond

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