Image: Mobily and Ericsson officials. Credit: Telefonaktiebolaget LM Ericsson.

Mobily, in partnership with Ericsson, has launched mobile financial service Mobily Pay in Saudi Arabia.

Mobily Pay will enable users to carry out personalised financial services, such as contactless payments, money transfers, international remittance, digital card payments, cash-back, bill payments, mobile top-up, and more.

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As per the agreement signed in 2022 between Mobily and Ericsson, Mobily Pay is developed on the Ericsson Wallet Platform, a fintech platform that offers secure, easy, functional, and relevant financial management by providing financial services to Mobily’s customers.

Mobily Pay CEO Ayman Abdullah AlEissa said: “Mobily Pay is live and we have already witnessed its fast adoption in the Saudi market. It will improve the lives of Mobily Pay users by making financial services personalized, quick, secure, and easy for everyone.

“Deploying the Ericsson Wallet Platform solution, Mobily is actively contributing to the Digital Transformation Vision in line with Saudi Vision 2030 by advancing from cash to a cashless digital transactions society.”

Under this partnership, Ericsson will enhance the Mobily Pay platform with futuristic roadmap, which will lead to a full-service digital services and financial capabilities backed by easy operations and maintenance with managed services.

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Ericsson vice president for Middle East and Africa Ekow Nelson said: “We are proud to enable the launch of the state-of-the-art mobile and digital financial services in an established and advanced market like Saudi Arabia. 

“This a step-change in the evolution of the Ericsson Wallet Platform that enhances Mobily Pay’s contribution to the introduction of innovative financial services for its consumers, anytime, anywhere. The launch of Mobily Pay will enhance the Kingdom’s move towards digital transformation.”

Currently, over 342 million people across the world use Ericsson Wallet Platform solutions and monthly processes more than 2.6 billion transactions.