TIDMESG
eServGlobal Limited
21 September 2016
eServGlobal Limited (eServGlobal or the "Company")
HomeSend announces new remittance service in Ethiopia
Paris: 21 September 2016
eServGlobal (AIM:ESG & ASX:ESV) is pleased to announce that
HomeSend and the Commercial Bank of Ethiopia (CBE) today announced
a new remittance service at the US-Africa Business Forum, that will
allow more than 100 million Ethiopians to send funds directly to
any mobile number in the East African country.
HomeSend is a joint venture between MasterCard, eServGlobal and
BICS.
The full announcement made today by HomeSend is set out
below.
About eServGlobal
eServGlobal (AIM:ESG, ASX:ESV) offers mobile money solutions
which put feature-rich services at the fingertips of users
worldwide, covering the full spectrum of mobile financial services,
mobile wallet, mobile commerce, recharge, promotions and agent
management.
For more than 30 years, eServGlobal has been a source of
innovation for telcos and financial institutions. Using
carrier-grade, next-generation technology, eServGlobal aligns with
the requirements of customers around the globe.
Together with MasterCard and BICS, eServGlobal is a joint
venture partner of the HomeSend global payment hub, enabling
cross-border money transfer between mobile wallets, cards, bank
accounts or cash outlets from anywhere in the world.
For further information, please contact:
eServGlobal www.eservglobal.com
Alison Cheek, VP Corporate Communications T: +33 (0)1 4612
7746
finnCap Limited (Nomad and Broker) www.finnCap.com
Jonny Franklin-Adams / Carl Holmes T: +44 (0) 20 7220
0500
Alma PR (Financial Public Relations) www.almapr.co.uk
Josh Royston / Hilary Buchanan T: +44 (0) 208 004
/ John Coles 4218
HomeSend, Mastercard aim to transform the $3bn remittance
industry in Ethiopia
Remittance service launched with CBE signals evolution of
Ethiopian payment ecosystem
New York, USA - September 21, 2016 - HomeSend and the Commercial
Bank of Ethiopia (CBE) today announced a new remittance service at
the US-Africa Business Forum, that will allow more than 100 million
Ethiopians to send funds directly to any mobile number in the East
African country.
Launched in 2014, HomeSend is a joint venture of Mastercard,
eServGlobal and BICS that enables business to business cross-border
and cross-network transfers. Consumers can send money to and from
mobile money accounts, payment cards, bank accounts or cash
outlets, regardless of their location or that of the recipient. It
is free for receivers and is accessible to anyone with a mobile
number, and empowers the sender to transfer funds at a low cost
through the HomeSend secure network of money transfer operators and
banks.
HomeSend will be available in Ethiopia before the end of the
year, says Bekalu Zeleke, President of CBE. "At the CBE, we believe
that embracing technology is integral to bringing the best possible
service to our customers. HomeSend is an example of how, when
working with the right partner, like Mastercard, a financial
institution can improve the lives of its customers."
Estimated to be a US$ 3.5 billion industry in Ethiopia,
remittance services provides citizens with access to a safe and
convenient financial solution, bridging the gap for those
previously excluded from the formal financial sector. According to
the World Bank Global Financial Inclusion database, only 22 percent
of adults in Ethiopia have a financial account with a formal
financial institution.
In the 2016 Financial and Digital Inclusion Project (FDIP)
Report it was highlighted that the National Bank of Ethiopia has
established several financial inclusion goals in areas such as
digital financial services, financial literacy, and payment
systems. In 2014, it established a Financial Inclusion Council
(FIC) to advance on inclusive financing and centralize the services
offered by various bodies.
"We are committed to helping develop a more inclusive economy,
and displacing cash in Ethiopia and across Africa. It's through
digital payment solutions such as HomeSend that we can help put
real dollars in the hands of people who need it the most," said
Daniel Monehin, Division President, Sub Saharan Africa,
Mastercard.
"Cash remains the biggest barrier to financial inclusion in
Africa. By empowering communities through technology, we provide
access to formal financial services which brings with it the
opportunity to prosper."
Mastercard continues to rapidly expand the reach of its
remittance efforts, including the HomeSend joint venture, with
coverage expected to reach more than 70 markets in 2016. These will
include a number of new Mobile Money markets, bolstering the
interoperability of HomeSend's network and providing consumers with
the ability to send and receive remittances globally via a mobile
phone.
ENDS
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. Contact us at:
https://www.homesend.com/contact-us.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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September 21, 2016 10:00 ET (14:00 GMT)
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