African operator aims to launch advanced mobile financial services
Mobile telephony operator MTN Swaziland has deployed Ericsson Converged Wallet, which will enable the African telco to launch differentiated mobile financial services. The rollout is expected to benefit more than 275,000 existing MTN Swaziland mobile wallet users and 3,000 agents across the nation.
MTN Swaziland is part of MTN Group, a multinational telecommunications group, with operations in 22 countries across Africa and the Middle East.
The new platform deployed by Ericsson serves as a mobile money hub solution, connecting MTN’s operations in several countries, enabling the launch of new services and providing cross-promotion capabilities for improved adoption.
“Through our work with Ericsson, MTN Swaziland offers MTN Mobile Money to bridge the gap between the region’s banked and unbanked populations, providing wide and crucial access to financial services,” MTN Swaziland’s CEO Ambrose Dlamini said. “With our rollout of Ericsson Converged Wallet, we have enhanced the stability and security of our mobile financial services offering, while gaining the ability to deliver better mobile financial services offers and bundles as part of our pre-paid services.”
The deployment is part of Ericsson and MTN’s partnership to launch mobile wallet services across the operator’s footprint. The new services offered by the telco fulfill mobile financial services regulatory requirements enacted by the Bank of Swaziland. By making financial transactions, subscribers are now able to accumulate loyalty points toward MTN services, initiate loan requests and receive money from a range of access channels.
Under the agreement, Ericsson replaced MTN Swaziland’s existing mobile wallet platform, also integrating the new solution into the operator’s charging system. Ericsson provided an integrator engagement model that encompasses hardware, software, systems integration and migration services that are supported by a managed operations model.
Ericsson Converged Wallet is an integrated mobile wallet solution that combines the operators’ wallet and charging platforms. It allows mobile operators to bundle telecom offerings with financial services. Ericsson Converged Wallet is part of the Swedish company’s m-commerce portfolio.
MTN Swaziland currently offers GSM and 3G services and had a total of 915,000 subscribers by the end of the first quarter of 2015. MTN is the only mobile company operating in Swaziland.
Mobile banking and financial applications have really taken off in Africa where access to stable, consistent banking services is limited.
