Mobile-Money-300x200MTN Uganda has deployed Ericsson’s Converged Wallet platform to support its mobile money services.

Ericsson says that the new system will enable the operator to quickly introduce relevant, new and differentiated mobile financial services offerings for its seven million mobile money users and 50,000 agents.

The vendor added that the new platform will also allow customers to accumulate loyalty points toward MTN services when carrying out financial transactions, as well as enabling them to initiate loan requests and receive money from a range of access channels, including feature phones and smart devices.

Ericsson’s deployment for MTN Uganda is part of a wider frame agreement covering MTNGroup’s operations in 22 countries across Africa and the Middle East.

14 million Ugandans used the mobile money platforms in 2013, with the value of transactions up 40% year-on-year to UGX18,600 billion (USD7.2 billion). Mobile money users in Uganda now outnumber traditional bank account holders two-to-one, with the customer total rising by more than 52% in 2013.

The total number of transactions increased 65% from 241.7 million in 2012 to 399.5 million a year later.