MTN Swaziland, a division of international telecom provider MTN Group, has deployed a new mobile wallet platform in collaboration with Ericsson. Called the Ericsson Converged Wallet, the mobile financial services app is now available to over 275,000 users as well as 3,000 agents in the country.
The development is part of a wider strategy between Ericsson and MTN Group, to connect the 219 million MTN customers in the Middle East and Africa to digital banking. In a statement, Ericsson called the app “a mobile money hub solution,” offering a range of mobile financial services, including money transfers and loan requests. Meanwhile, MTN Swaziland’s CEO, Ambrose Dlamini, emphasized the positive effect it could have on the populace, suggesting that it’s going to “bridge the gap between the region’s banked and unbanked populations, providing wide and crucial access to financial services.”
It’s part of a broader trend happening in financial services that could be described as a kind of revolution driven by the rise of mobile devices. Mobile banking solutions are helping to bring important financial services to hitherto underserved populations, and are also making it easier for people to conduct transactions like money transfers all over the world – a vital capability for the many migrant workers consistently sending money back home to their families and dependents. MTN Swaziland’s new Ericsson Converged Wallet should help to enable these kinds of capabilities, and that will be good news for everyone.