Ericsson Money Launches In Europe To Send And Receive Money Via Mobile

Remember Ericsson? Yeah, they used to make mobile phones on their own. Then they realised they couldn’t compete against Nokia, Motorola and the rest, and spun out their mobile division to hook up with Sony, who also realised that they were getting squeezed. Sony Ericcson mobile has trundled along for a few years and are even coming out with handheld mashups like the Xperia Play. But the mothership of Ericsson itself has largely turned into a telecoms and services company. Today, however they are doing something unusually disruptive.

Ericsson Money is launching across seven European countries (UK, France, Germany, Italy, Spain, Poland and Sweden) and allows anyone to send and receive money via mobile. Eventually there will be a commission fee for sending money but for a limited time it’s free.

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