Ericsson opens its Wallet for VeriFone

Sony Ericsson opens its Wallet for VeriFone

Partnership is aimed at expanding reach into emerging markets.

Ericsson is expanding its payment options in its Wallet Platform with a partnership with VeriFone Mobile Money.

The global partnership agreement will expand Ericsson's reach in emerging markets with the integration of VeriFone's Money Retail Enablement software suite.

Ericsson's Wallet Platform enables operators to reuse existing assets and to bundle telecom offerings with financial services for m-commerce needs.

Chris Jones, Chief Executive, VeriFone Mobile Money said: "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."

Ericsson is working to include a number of financial offerings to give flexibility to people without banks, typically in emerging markets.