eServGlobal Limited HomeSend progress in the banking market (3345S)
October 02 2017 - 2:00AM
UK Regulatory
TIDMESG
RNS Number : 3345S
eServGlobal Limited
02 October 2017
eServGlobal Limited (eServGlobal or the "Company")
HomeSend progress in the banking market
Paris: 2 October 2017
eServGlobal (LSE: ESG.L & ASX: ESV.AX), the provider of
innovative mobile financial technology, provides an update on the
progress of HomeSend, its joint venture with Mastercard and BICS.
eServGlobal has been informed by HomeSend that Mastercard Send has
recently secured additional bank agreements with Standard Chartered
Bank and Atlas Mara to provide cross-border payment services.
In the past year, approximately ten agreements have been made
with banks for cross-border payments where HomeSend will be the
transaction carrying platform as part of Mastercard Send Cross
Border. Annual volumes from currently identified opportunities
against these agreements are expected by eServGlobal to be in the
region of US$3-5 billion in the medium term. Planned or expected
use cases include B2B (Business to Business), P2P (Person to
Person) remittances, and intrabank transfer.
Standard Chartered Bank is a leading international banking group
with operations in some of the world's fastest growing markets.
Atlas Mara Limited is a rapidly growing sub-Saharan African
financial services group listed on the London Stock Exchange.
Other recent HomeSend developments include the successful launch
of live transactions to bank accounts in China. This represents
completion of a considerable capability that is very desirable for
existing and potential clients given the size and growth of the
Chinese market. HomeSend now reaches over 137 end points across
100+ countries and can reach 3 billion bank accounts around the
world.
John Conoley, eServGlobal Executive Chairman and HomeSend Board
Member, commented, "These agreements demonstrate two key elements
of HomeSend's capability; that HomeSend works with banks to
revolutionise cross-border payments, and that it is used both for
B2B payments in addition to its originally demonstrated success in
the P2P space. It shows that HomeSend is moving towards realising
the significant opportunity before it".
These wins are in line with HomeSend's strategic plan to expand
their target market from mobile-centric cross-border P2P
remittance, to the wider global payments space, including the US$22
trillion/year global international payment flows market, which
encompasses B2B and B2C (Business to Consumer) payments.
Mastercard recently updated its investor community, highlighting
HomeSend's strategic positioning within it's cross-border strategy.
The Mastercard investor presentation and accompanying audio
recording can be found at:
http://investor.mastercard.com/investor-relations/events-and-presentations/event-details/2017/September-Mastercard-Investment-Community-Meeting/default.aspx
This announcement contains inside information for the purposes
of Article 7 of Regulation 596/2014.
The HomeSend global payment hub is a joint venture of Mastercard
(55%), eServGlobal (35%) and BICS (10%).
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
Tom Rowe, Company Secretary investors@eservglobal.com
Alison Cheek, VP Corporate Communications
finnCap Limited (Nomad and Broker) www.finnCap.com
Jonny Franklin-Adams / Anthony T: +44 (0) 20 7220
Adams / Hannah Boros 0500
Alma PR (Financial Public Relations) www.almapr.co.uk
Hilary Buchanan / John Coles T: +44 (0) 208 004
4218
This information is provided by RNS
The company news service from the London Stock Exchange
END
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