FinTech market
Ericsson Aims to Enable Financial Inclusion and Development Across Africa
As the world grapples with the COVID-19 health crisis, the desire for mobile money and contactless payments is on the rise to avoid infections and disease transmission. With mobile money, customers can make payments anywhere at any time with their mobile devices connected to the Internet which decreases exposure to physical money, Point of Sales (PoS) terminals and Automated Teller Machines (ATM)– especially with high volumes of micropayments. The freedom to send, spend and receive money with a mobile phone is quickly becoming an essential part of life for billions of people. It is said that more money remains digital – promoting further digital transactions circulating in the system – rather than being cashed-out – which is great progress towards a cashless society. In 2019, GSMA recorded...
