Hot on the heels of Visa and Google, Ericsson have launched a mobile money network in seven European countries. Users in the UK, Germany, France, Poland, Sweden, Spain and Italy are being offered the chance to sign up to the system which allows them to send and receive money using their mobile phone handsets.
Ericsson created a Money Services division specially for the creation of this scheme, which uses the Ericsson Money Interconnect network and is compatible with other mobile wallet systems. The company plans to rollour the scheme across the rest of Europe.
Semir Mahjoub, president of Ericsson Money Services, said: "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. Individuals around the world can benefit from globally connected money services in their everyday lives by making money transfer more like mobile communication."
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