Saudi-based Mobily, part of Etisalat Emirates Group has launched a new ‘Mobile Pay’ financial service in partnership with Ericsson.
The platform has been made available to all users in the Kingdom to conduct contactless payments, money transfers, international remittance and digital card payments. Also included among its functions are cash-back, bill payments and mobile top-up, a statement said.
In accordance with the agreement signed last year between Mobily and Ericsson, Mobily Pay is built on the Ericsson Wallet Platform, a fintech platform that delivers financial management services.
Ayman Abdullah AlEissa, Chief Executive Officer at Mobily Pay said, “Mobily Pay is live and we have already witnessed its fast adoption in the Saudi market. It will improve the lives of Mobily Pay users by making financial services personalised, quick, secure, and easy for everyone. 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.”
At present, more than 342 million people globally use Ericsson Wallet Platform solutions delivered by communications service providers while over 2.6 billion transactions are processed monthly.
The companies announced a five-year contract, under which, Ericsson is looking to enhance the Mobily Pay platform and pave the way to full range of digital services and financial capabilities.
Ekow Nelson, Vice President at Ericsson Middle East and Africa said, “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.”