Ericsson’s Wallet Platform has been leveraged by Mobily to launch Mobily Pay, a mobile financial service, during LEAP23. The service is available to all the users in the Kingdom to carry out personalized financial services like contactless payments, money transfers, international remittances, digital card payments, cash-back, bill payments, mobile top-ups and more, securely and at their convenience.
Mobily Pay is built on the Ericsson Wallet Platform, a fintech platform that provides secure, simple, functional, and relevant financial management by delivering easy-to-use financial services to Mobily’s customers.
As part of this partnership, Ericsson will also evolve and enhance the Mobily Pay platform with a futuristic roadmap leading to a full slate of digital services and financial capabilities supported by smooth operation and maintenance, combined with managed services for the fintech solution.
Ekow Nelson, vice president at Ericsson Middle East and Africa, noted, “We are proud to enable the launch of the state-of-the-art mobile and digital financial services in an established and advanced market like Saudi Arabia. This a step-change in the evolution of the Ericsson Wallet Platform that enhances Mobily Pay’s contribution to the introduction of innovative financial services for its consumers, anytime, anywhere. The launch of Mobily Pay will enhance the Kingdom’s move towards digital transformation.”
Meanwhile, Ayman Abdullah AlEissa, chief executive officer at Mobily Pay, added, “Deploying the Ericsson Wallet Platform solution, Mobily is actively contributing to the Digital Transformation Vision in line with Saudi Vision 2030 by advancing from cash to a cashless digital transactions society.”
Currently, more than 342 million people worldwide use Ericsson Wallet Platform solutions delivered by communications service providers, which process over 2.6 billion transactions every month.