Ericsson and Mastercard have announced a partnership that will reshape how money moves worldwide by combining Ericsson’s Mobile Financial Services platform with Mastercard’s Move money‑movement suite. The collaboration is designed to give telecom service providers, banks and fintechs the tools to expand digital wallet capabilities, launch new payment services and reach unbanked or underbanked communities.
Ericsson’s fintech platform is already operating in 22 countries and serves more than 120 million active users, processing over four billion transactions each month across digital wallets, payments, remittances, lending and loyalty services. Mastercard Move, in turn, operates in more than 200 countries and territories, connects over 17 billion endpoints and supports transactions in 150 currencies. By integrating the two platforms, partners can simplify connectivity to Mastercard Move, reduce technical hurdles and accelerate the deployment of new services.
The partnership is strategically focused on the Middle East and Africa, regions with high demand for mobile money, remittances and interoperable payment services. It aligns with the broader industry trend of convergence between telecommunications and financial services, and it positions both companies to capture the growing need for digital financial inclusion in emerging markets.
Pavan Bachwal, Head of Mobile Financial Services at Ericsson, said, “Joining forces with Mastercard marks a bold step toward the future of money movement. Combining Ericsson's trusted, scalable platform with Mastercard Move enables our customers to launch secure and efficient payment solutions faster than we ever have before. Together, we are driving financial inclusion, accelerating innovation, and creating new growth opportunities across the globe.” Pratik Khowala, Global Head of Transfer Solutions at Mastercard, added, “Mastercard Move empowers payment service providers to shape the future of money movement – delivering fast, secure and transparent transfers for individuals and businesses worldwide. By integrating with Ericsson's fintech platform, we're opening new pathways for telecom operators, financial institutions and fintechs to scale innovative payment services, reach underserved communities and unlock fresh revenue streams. This collaboration not only meets the rising demand for digital cross‑border payments, but also accelerates progress toward a more connected, inclusive and dynamic global digital economy.”
The partnership is expected to create new revenue streams for Ericsson, strengthen its position in the fintech ecosystem and accelerate the adoption of digital payments in emerging markets. By leveraging Ericsson’s decade‑long experience in mobile money and Mastercard’s global payment network, the collaboration will enable partners to offer secure, real‑time transfers, transparent tracking and multiple payout options, thereby supporting financial inclusion for underserved populations.
Mobile wallets are evolving from simple payment tools into comprehensive platforms that offer a range of financial services. Mastercard Move’s suite simplifies cross‑border payments with real‑time delivery and tracking, while Ericsson’s cloud‑native, compliance‑ready infrastructure reduces integration complexity. Together, the partnership positions both companies to meet the rising demand for digital financial services and to expand their reach in markets where traditional banking penetration remains low.
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