Ericsson & Vodafone's M-Pesa To Ease Safe Water Payments
Zacks Investment Research | Oct 07, 2016 06:40AM ET
Swedish communication technology and services giant, Ericsson (ST:ERICAs) (NASDAQ:ERIC) has tied up with Vodafone (LON:VOD)'s M-Pesa in an initiative to make mobile money payments and cash collection easier and more straightforward.
The integrated payment solution is intended to simplify the process of paying for safe water. This joint effort will begin with the first deployment connecting M-Pesa with the growing network of Grundfos safe water kiosks spread across Kenya and Tanzania. Other countries are expected to follow soon.
Grundfos' intelligent and connected water kiosks dispense safe drinking water in developing countries. However, about 50,000 water supply points have been unsuccessful across rural Africa, mostly due to shortage of funds and capacity for operations and maintenance. The Ericsson-Vodafone tie-up is intended to deal with this critical challenge through efficient cash collection, lower cash management risks and reduced overhead costs. This will offer a scalable safe water solution.
The initiative will build the much-needed connections between wallet providers and enterprises, thus representing a major leap forward for the mobile money ecosystem.
Late last month, Ericsson entered into a partnership with HomeSend. The deal is aimed at accelerating the adoption of international remittances through mobile phones across emerging markets. Together, the two entities are aimed at delivering a cost-effective, prompt and simple way to financial service providers to connect the HomeSend global money transfer hub with Ericsson's mobile money offering around the world.
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