February 19, 2013
eServGlobal (LSE: ESG & ASX: ESV), the global telecoms software vendor specialising in Mobile Money and Value-Added Services, announces that following an initial contract signature last year, it is now rolling out its mobile money solution to a mobile network operator in
The contract includes the provision of mobile money, microfinance, credit, postpaid bill payment, mobile banking, salary disbursement, electronic recharge and mobile wallet functionality.
In the region where this solution will be deployed, the economy is largely cash-based with very low penetration rates of formal financial services. Salaries are primarily paid in cash and the majority of people lack ways to save or pay bills via electronic methods. Mobile phones provide a way to extend financial services to low-income customers given their wide-spread use in this demographic. Historically financial institutions have been unable to adequately service these people, especially in remote areas, given the cost of bricks-and-mortar branches.
eServGlobal's mobile money solutions provide access to mobile-based financial services such as a mobile wallet, mobile money transfer, bill payment and salary disbursement. The platform can also be extended to provide more advanced mobile financial services such micro insurance, savings and loans.
Paolo Montessori, COO of eServGlobal, said, "The deployment of these innovative services to a new customer demonstrates that eServGlobal's mobile money offering is tailored to match the evolving needs of the market. We expect this project to strengthen our foundations for further wins in this region. We continue to focus on building interoperable, mature mobile financial solutions for service providers across the African continent and throughout the world."
The operator is part of a telecom group serving the needs of customers across several African countries covering the areas of mobile, fixed, internet and broadband services.