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Saudi-based telecommunications firm Mobily has teamed up with Ericsson to launch financial services solutions in the Kingdom. 

The Swedish company will provide the technology allowing Mobily to provide platforms which aims to increase the share of ��������Ƶ’s cashless payments to 70 percent by 2030.

Ekow Nelson, vice president of Ericsson Middle East and Africa said: “Together with Mobily, we aim to make financial services as intelligent and intuitive as possible so Saudi consumers can access and perform secure, financial transactions anytime, anywhere. 

“Our mobile financial solutions will help Mobily extend its trusted brand into financial services and lay the foundation for growing revenues in adjacent markets.”