Ericsson to launch mobile remittance service in PHL

Telecom giant Ericsson is set to launch its money transfer business in the Philippines and connect the country to seven European nations.

The Swedish firm’s new business line — Ericsson Money Services — began in February this year, offering mobile financial services or allowing the movement of funds using a mobile phone.

The company said the service aims to address the “needs both in developed and emerging markets where consumers will benefit from getting basic banking and payment services into their phones."

The new service allows mobile phone users in the Philippines to send and receive money to and from their families and friends in some countries in Europe. Source: Gmanews.tv