Ericsson and eBANK in cooperation to advance e-commerce use in Japan

Ericsson and newly created Japanese e-commerce pioneer eBANK have agreed on a cooperation to advance the use of e-commerce in Japan, the world's leading mobile Internet market. Under the agreement, Ericsson also takes an equity stake in eBANK.

Through the business tie-up, Ericsson will as a first step offer eBANK the TM Internet payment server EHPT SAFETRADER , and eBANK will become the TM first financial institution in Japan to support Jalda . Jalda is a non- proprietary, open system that enables easy and secure financial transactions on line whether from stationary PCs, mobile phones or any other communications device with Internet access.

"There is a need for a commercially viable, mobile, flexible, and secure method of paying for the multitude of products and services available on the Internet," notes Taiichi Matsuo, President of eBANK. "Through this business and capital alliance with Ericsson, the world's leading communications supplier, eBANK will be able to lead the way in e-commerce by offering the Japanese consumer exactly this, through the Jalda payment method."

"By establishing Jalda as an Internet payment method in Japan, together with eBANK we can offer Japanese consumers a way to purchase goods and services from any Internet terminal, such as a PC or a mobile phone, with total security and integrity," states Morgan Bengtsson, President of Ericsson in Japan. "Together with eBANK, we offer solutions that will remove remaining obstacles to the Japanese e-commerce market growing in volume and creative multitude."

The e-commerce payment solution offered by Ericsson is the first one that offers the consumer total security and integrity, the content provider total flexibility in how they want to charge for their product, and the payment provider total control of the revenue flow.

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