Mastercard Move Set to Accelerate Banks’ Digital Payment Services

Ericsson and Mastercard have announced a collaboration aimed at transforming how money moves globally, with implications for banks and fintechs.

By integrating Ericsson’s Fintech Platform with Mastercard Move, which is Mastercard’s portfolio of money movement solutions, the partnership seeks to simplify digital wallet expansion, speed up new payment service launches, and reach underbanked populations.

For banks, the integration could reduce technological and operational hurdles that often slow innovation. Ericsson’s cloud-native, compliance-ready platform, with pre-integrated APIs, is designed to streamline connectivity to Mastercard Move, lowering the complexity and cost of deploying new services. This can enable banks to accelerate digital payment adoption and develop new revenue streams.

The collaboration also aims to position banks to compete more effectively with fintechs in emerging and developed markets by creating more scalable and interoperable financial services. It is designed to strengthen digital ecosystems while expanding participation in the digital economy.

Pratik Khowala, global head of transfer solutions at Mastercard, said:  “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 global rollout will begin in the Middle East and Africa, regions where demand for mobile money, remittances, and interoperable payment services is particularly high. For banks operating in these markets, the integration offers a way to enhance digital offerings without extensive infrastructure changes while supporting financial inclusion initiatives.