Ericsson took another step towards offering its customers the best mobile payment solution on the market by announcing a partnership with Verifone Mobile. The announcement actually came late last week and allows Ericsson to make use of a service platform that is considered one of, if not the leader when it comes to mobile payment solutions for merchant point of sale. The partnership will also allow Ericsson to integrate features from Verifone Mobile solutions in its Ericsson Wallet Platform.
“This partnership will enable Ericsson’s customers to realize the economic benefits of increased volumes of payment transactions, wider mobile money adoption and an improved consumer experience. NFC and contactless payments drive wallet adoption transactions at the merchant, and cashless economies. We are excited about the partnership and look forward to a long-term relationship.” Chris Jones, Chief Executive of VeriFone Mobile Money said in a recent statement.
This collaboration between the two companies also means that Ericsson will be able to beef up a number of its different NFC and tap-to-pay offerings in the coming months and years. Most encouraging for Ericsson is that the Verifone Mobile applications are compact, simple to install and quite easy for both the customer and the merchant to use. The apps also allow for a number of different card payment options including NFC, mobile wallets, EMV and contactless payments.
Working with a company as large as Verifone will allow Ericsson to become a major player in the mobile payment market. By joining forces with this large telecommunications company, Ericsson clearly plans to drive the next generation of mobile commerce development, connecting banks, operators and money transfer organizations with payment and Internet service providers. It’s a safe bet that Ericsson will be folding what it learns in this partnership into the larger m-commerce platform the company is continuing to try and grow.