TIDMESG
RNS Number : 9770D
eServGlobal Limited
03 April 2014
Closing of HomeSend JV
MasterCard, eServGlobal and BICS announce closing of the
HomeSend joint venture and the appointment of the CEO and Board of
Directors
Paris: 3 April 2014
eServGlobal (LSE: ESG.L & ASX: ESV.AX) is pleased to
announce the successful closing of the previously announced joint
venture, HomeSend, and the appointment of the HomeSend CEO and
Board of Directors.
Please find below the announcement made by HomeSend today.
About eServGlobal
eServGlobal has been a source of innovative solutions for mobile
and financial service providers for 30 years. eServGlobal invests
heavily in product development, using carrier-grade,
next-generation technology and aligning with the requirements of
more than 90 customers in over 65 countries.
Our mobile money solutions put feature-rich mobile financial
services at the fingertips of users worldwide, covering the full
spectrum of mobile wallet, mobile commerce, recharge and agent
management features. eServGlobal also offers a comprehensive suite
of sophisticated, revenue generating Value-Added Services to engage
subscribers in a dynamic manner. These services can be seamlessly
integrated with our mobile money portfolio to extend loyalty and
promotion offers.
For further information, please contact:
eServGlobal www.eservglobal.com
Alison Cheek, Communications Manager T: +33 (0) 1 4612 7746
Cenkos Securities plc www.cenkos.com
Ivonne Cantú/Stephen Keys (Nomad) T: +44 (0) 20 7397 8980
Charles Stanley Securities www.csysecurities.com
Dugald Carlean/Paul Brotherhood T: +44 (0) 20 7149 6000
Newgate Threadneedle www.newgatethreadneedle.com
Caroline Evans--Jones/Josh Royston/Hilary T: +44 (0) 20 7653 9850
Millar
PRESS RELEASE
International money transfer joint venture, HomeSend, announces
CEO and Board
MasterCard, eServGlobal and BICS announce closing of the
HomeSend joint venture and
the appointment of the CEO and Board of Directors
Brussels, 3 April 2014 - MasterCard (NYSE: MA), eServGlobal
(LSE: ESG.L, ASX: ESV.AX) and BICS today announced the successful
closing of the previously announced joint venture, HomeSend.
HomeSend, an international money transfer hub, will provide an
important link between developed and financially underserved
emerging markets, particularly for foreign workers in need of an
instantaneous and cost-effective solution for funds transfer. The
World Bank estimates that the world's 232 million international
migrants are expect to remit over US$700 billion annually by
2016.
The company will be led by MasterCard payment solutions expert,
Stephen Doyle. Prior to this role, Stephen served as a Vice
President within the Emerging Payments group at MasterCard. In this
role, he was responsible for the European go-to-market strategy,
planning and deployment of products powered by the MasterCard
inControl service, including applications across the company's
Commercial, Consumer, Debit and Credit businesses. Previously he
was Chief Financial Officer for Orbiscom, a payments technology
company acquired by MasterCard in 2008.
Stephen Doyle, CEO of HomeSend, said, "I am honored to assume
the role of CEO at this exciting time for HomeSend. The joint
venture offers a perfect vehicle to expand the reach and range of
HomeSend's money transfer services globally. The HomeSend joint
venture can increase people's freedom to send and receive money in
a way that's easy and convenient and will bring our customers a
level of interoperability and connectivity that's unique in the
remittance industry."
HomeSend's operations will be overseen by a Board comprised of
six members, bringing extensive experience from across the telco,
payments and financial domains.
-- Max Chion, Group Executive, Emerging Payments Products, MasterCard
-- Bella Stavchansky, Division President, High Growth European Markets Region, MasterCard
-- Max Mamondez, Regional Finance Officer, Europe, MasterCard
-- Paolo Montessori, CEO and Managing Director, eServGlobal
-- Stephen Blundell, CFO and Finance Director, eServGlobal
-- Frédéric Salmon, Vice-President, Strategic Projects, BICS
HomeSend, which was first launched in 2008 as a strategic
partnership by JV members BICS and eServGlobal, has live
deployments in 50 countries and commercial contracts with mobile
network operators (MNOs) and money transfer operators (MTOs) that
represent more than 1.2 billion subscribers - the equivalent of one
in seven of the world's population - and 200,000 cash agents
respectively. This community will be connected to the more than
24,000 financial institutions on the MasterCard network, creating
one of the most extensive cross-border money transfer networks in
the world and providing new levels of flexibility and choice to
consumers in both developed and emerging markets.
Following today's announcement, HomeSend is now operating as an
independent entity, with the full support of the three
partners.
About HomeSend
HomeSend is a joint venture created by MasterCard, eServGlobal
and BICS that enables B2B cross-border and cross-network value
transfers through a single connection. It builds on the successful
deployment of mobile enabled person-to-person transfers in emerging
markets and the digitalization of money transfer services. The
HomeSend service innovatively bridges the gap between finance and
telecommunication service providers and enables consumers to send
money to and from mobile money accounts, payment cards, bank
accounts or cash outlets - regardless of their location or that of
the recipient.
About MasterCard
MasterCard (NYSE: MA), www.mastercard.com, is a technology
company in the global payments industry. We operate the world's
fastest payments processing network, connecting consumers,
financial institutions, merchants, governments and businesses in
more than 210 countries and territories. MasterCard's products and
solutions make everyday commerce activities - such as shopping,
traveling, running a business and managing finances - easier, more
secure and more efficient for everyone. Follow us on Twitter
@MasterCardNews, join the discussion on the Cashless Pioneers Blog
and subscribe for the latest news on the Engagement Bureau.
About eServGlobal
eServGlobal (LSE: ESG, ASX: ESV) ) offers mobile money solutions
which put feature-rich mobile financial services at the fingertips
of users worldwide, covering the full spectrum of mobile wallet,
mobile commerce, recharge, promotions and agent management
features. eServGlobal invests heavily in product development, using
carrier-grade, next-generation technology and aligning with the
requirements of more than 65 customers in over 50 countries.
eServGlobal also builds on its extensive experience in the telco
domain to offer a comprehensive suite of sophisticated, revenue
generating Value-Added Services to engage subscribers in a dynamic
manner. eServGlobal has been a source of innovative solutions for
mobile and financial service providers for 30 years. Follow us on
Twitter @eServGlobal.
About BICS
BICS delivers best-in-class international wholesale solutions to
any communication service provider worldwide. Through its Mosaic
portfolio, a comprehensive, flexible and innovative suite of
solutions designed to be used individually, or collectively, BICS
meets the existing and future requirements of the global telecoms
industry.
BICS' headquarters is located in Brussels with regional offices
in Bern, Dubai, New York and Singapore. We have also local
representation in Accra, Beijing, Cape Town, Miami, Montevideo and
Nairobi. Our team continuously strives to provide our customers
with the highest levels of quality, reliability and
interoperability enabling them to maximise their end-user value.
With our successful consolidation strategy, and a continuing focus
on technological advancement and innovation, we have achieved a
world-leading position in the international Voice and Mobile Data
markets.
Media contacts:
MasterCard Brian Gendron, T: 914-249-1284, brian_gendron@mastercard.com
eServGlobal Alison Cheek, T: +33 6 7003 9078, alison.cheek@eservglobal.com
BICS Catherine Bals, T : +32 473 92 28 10, catherine.bals@bics.com
Investor relations contacts:
MasterCard Barbara Gasper, T: 914-249-4565, investor_relations@mastercard.com
eServGlobal Alison Cheek, T: +33 6 7003 9078, alison.cheek@eservglobal.com
# # #
This information is provided by RNS
The company news service from the London Stock Exchange
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