MICROCAPITAL BRIEF: Ericsson Plans Emergency Electronic Wallet System for Disaster Relief

Ericsson, a Sweden-based telecommunications company, recently announced plans to develop an emergency wallet system intended to “enable the distribution and use of digital funds by relief workers and impacted populations, which can help address issues such as safety, expense, and traceability that are associated with handling cash.” This emergency wallet system is part of Ericsson’s “Technology for Good Initiative.”

Peter Heuman, Head of M-Commerce at Ericsson, said, “Ericsson Emergency Wallet builds on our expertise in deploying mobile financial services in emerging markets. This solution enables a method of money transfer that is mobile which allows for a quicker, safer and more cost-effective way for the humanitarian organizations to distribute digital aid in disaster areas.”

As of 2016, Ericsson employed approximately 110,000 people in 180 countries and reported USD 34 billion in total assets.

By Jason Wei, Research Associate

Sources and Additional Resources

About Ericsson

Founded in 1876, Ericsson is a communication technology company based on Stockholm, Sweden. Ericsson offers products and services such as wireless phone services, networking equipment, broadband, cable television and video systems. As of 2016, the company employed approximately 110,000 people in 180 countries and reported USD 34 billion in total assets.

[1] Ericsson announces Emergency Wallet to support humanitarian response, http://www.ericsson.com/news/2014566

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