eServGlobal, quoted on AIM and the Australian Stock Exchange, a provider of end-to-end mobile financial services to emerging markets, confirmed today that it is partnering with the Zain Group to deploy eServGlobl's end-to-end mobile money solution across Zain’s operations. Zain is a leading mobile and data services operator with a commercial footprint in 8 Middle Eastern and North African countries, with over 44.4 million active individual and business customers.
This US$12m deal had been announced in April of this year, but eServGlobal had not released the identity of its partner until today. At the half year results, eServGlobal reported a significantly lower EBITDA loss, of just £0.2m on underlying revenue up 24% to £9.1m.
eServGlobal enables mobile phone operators to offer a comprehensive range of money management services to their subscribers. These are in the form of mobile wallets, bill paying, buying tickets and other services, receiving payments from governments or customers and the ability to send money internationally via the mobile handset. These services are very important in developing and emerging markets, where a significant proportion of the population does not have a bank account, but where many more people will have a mobile phone.
eServGlobal now has over 90 customers in more than 65 countries and partnerships with BICS, the Belgacom owned provider of wholesale carrier services, Mastercard and Wincor Nixdorf through which it can offer its portfolio of money management services. At the centre of this portfolio is the HomeSend proposition, currently deployed in 32 markets and with 50 targeted for end 2013.
The further expansion of eServGlobal’s footprint, and the critical mass and continued growth in usage of HomeSend, places the company in a strong position. This is based on an expectation of growing profits and a strong strategic position as mobile companies look to value added services to build usage and customer loyalty.