Frost & Sullivan Acknowledges Ericsson's Success in Creating a Single Global Standard for mCommerce
-- Ericsson is facilitating the shift toward a truly global mobile marketplace by breaking down technology barriers in emerging markets
MOUNTAIN VIEW, California, May 19, 2015 /PRNewswire/ -- Based on its recent analysis of the mobile commerce (mCommerce) market, Frost & Sullivan recognizes Ericsson with the 2015 Global Frost & Sullivan Award for Enabling Technology Leadership. Over 40% of the global mobile traffic is currently carried over Ericsson networks, and the company supports networks that connect more than 2.5 billion subscribers globally. Ericsson's rich history, diverse portfolio, and commitment to customer-first and forward-thinking operations have all contributed to its preeminence in the field of communications technology.
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Ericsson has augmented its impressive portfolio of technologies and services with secure mCommerce solutions for a global customer base. It partnered with Western Union to create an expansive money transfer network, differentiated by digitized wallet services that connect financial institutions and mobile network operators. Significantly, the Ericsson Wallet Platform was the first mobile money service to comply with the Payment Card Industry Security Standards Council's Payment Application Data Security Standard (PA-DSS v3.0).
"Ericsson delivers an end-to-end mCommerce solution portfolio that provides the technology, platform, and support for partners to succeed in an inherently complex and fragmented mCommerce market," remarked Frost & Sullivan's Senior Global Research Director Brent Iadarola.
The key features of its mCommerce solution are:
- Wallet Platform: A mobile wallet solution that lets people conduct banking transactions with ease, directly from their mobile device, in a secure and convenient manner, such as money transfers and payments.
- Converged Wallet: An integrated mobile wallet solution targeted at mobile operators that combines Ericsson's mobile wallet and charging platforms. It allows operators to reuse existing assets to bundle secure telecom and financial services.
- mCommerce Interconnect: A service that provides a global clearing house and international remittance hub for mobile payment services, offering interoperability between mobile wallet providers, as well as established payment networks.
- Professional Services: A comprehensive array of professional services spanning business planning and compliance to migration, implementation and post-live support.
Ericsson's Mobile Wallet has been deployed with MTN as partner in several countries in Africa. The recent deployment with MTN Uganda means that Ericsson's platform now reaches 7 million MTN Uganda mobile wallet users and 50,000 agents. In November 2014, the Mobile Wallet was also deployed in Senegal with the Millicom Group and continues to expand globally.
However, in Latin America, Ericsson's ConsumerLab research identified distrust toward institutions and a strong concern about security among consumers. To empower those who are still unbanked in Latin America, Ericsson works with customers to understand the current method of transaction, addresses security concerns by enhancing user awareness, collaborates with regulators and, ultimately, provides the tools to bring mobile wallets to consumers.
Although Ericsson offers technology and expertise, the quality that really stands out is its willingness to get to the ground level and understand not only customers' immediate needs, but the solutions that are needed to ensure their long-term success. Ericsson recognizes that by listening to the voice of the customer, it can best comprehend the needs of a changing business landscape and be prepared to meet customer demands.
"With keen focus on achieving a single global network, Ericsson is spurred by the transformative power of technology in societies and its culture of innovation," observed Iadarola. "Its partnership engagements in Latin America, Asia, Africa, and the Middle East have given Ericsson a unique insight into the dynamic and multifaceted mobile landscape, and the company is making rapid strides toward achieving its vision of an interconnected world."
Download Frost & Sullivan's full report, entitled 2015 Global Mobile Commerce Enabling Technology Leadership Award here.
Each year, Frost & Sullivan presents this award to a company that has developed a pioneering technology that not only enhances current products, but also enables the development of newer products and applications. The award recognizes the high market acceptance potential of the recipient's technology.
Frost & Sullivan's Best Practices Awards recognize companies in a variety of regional and global markets for outstanding achievement in areas such as leadership, technological innovation, customer service, and product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research.
About Ericsson
Ericsson m-commerce services portfolio is designed to provide the world's leading consumer brands with the infrastructure and solutions needed to create and connect m-wallets across a global m-commerce eco-system. The portfolio of services will speed time to revenue, increase adoption and stickiness, cost efficiency and performance for mobile network operators, financial institutions, internet gaming companies and retailers.
Ericsson is the driving force behind the Networked Society and a world leader in communications technology and services. Our long-term relationship with every major telecom operator in the world is to allow people, business and society to fulfill their potential and create a more sustainable future.
Our services, software and infrastructure—especially in mobility, broadband and the cloud—are enabling the telecom industry and other sectors to do better business, increase efficiency, improve the user experience and capture new opportunities.
With approximately 115,000 professionals and customers in 180 countries, we combine global scale with technology and services leadership. We support networks that connect more than 2.5 billion subscribers. Forty percent of the world's mobile traffic is carried over Ericsson networks. And our investments in research and development ensure that our solutions—and our customers—stay in front.
Founded in 1876, Ericsson has its headquarters in Stockholm, Sweden. Net sales in 2014 were SEK 228.0 billion (USD 33.1 billion). Ericsson is listed on NASDAQ OMX stock exchange in Stockholm and the NASDAQ in New York.
For more information please visit: www.ericsson.com/m-commerce/
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