eServGlobal Limited HomeSend approved for Payment Institution Licence (7912O)

TIDMESG

RNS Number : 7912O

eServGlobal Limited

11 February 2016

eServGlobal Limited ("eServGlobal" or the "Company")

HomeSend approved for Payment Institution Licence

11 February 2016

eServGlobal (AIM:ESG & ASX:ESV), the provider of end-to-end mobile financial services to emerging markets, announces that HomeSend, a Joint Venture between MasterCard, eServGlobal and BICS to create a market-leading global payment hub, has been granted a Payment Institution Licence by the Central Bank of Belgium.

A Payment Institution Licence is a key milestone in HomeSend's development strategy, allowing it to further strengthen and expand its market coverage. The establishement and maintenance of a Payment Licence was identified as a use of funds of the HomeSend capital raise announced in September 2015. The Licence enables HomeSend to operate in certain regions, including key new markets in the Asian subcontinent and Far East, and to secure new types of partners.

HomeSend is a disruptive, multilateral global payments hub, which allows all players in the substantial global payments space to interoperate via a single connection. HomeSend, as a B2B solution, plays a unique role in offering interconnectivity between, MTOs, Telcos, Banks, Mobile Money Providers and Financial Service Providers. The World Bank estimates that remittance flows to developing countries will reach US$516 billion in 2016.

Executive Chairman, John Conoley, said "Today's announcement is an important step forward for HomeSend. The Payment Institution Licence is a key enabler in building the addressable partner, geographical and consumer base of the HomeSend hub.

"This builds on the recent structural progress of going live with the new PCI-DSS compliant data centre, which will enable integration with the MasterCard network. eServGlobal remains confident in the progress and long-term success of the HomeSend Joint Venture."

For further information, please contact:

 
 eServGlobal                                  www.eservglobal.com 
 Tom Rowe, Company Secretary                  T: [phone] 
  Alison Cheek, VP Corporate Communications    5050 
                                               [e-mail] 
 Canaccord Genuity Limited (Nomad             www.canaccordgenuity.com 
  and Broker)                                  T: [phone] 
  Simon Bridges / Cameron Duncan               8000 
  / Emma Gabriel 
 Alma PR (Financial Public Relations)         www.almapr.co.uk 
  Josh Royston / Hilary Buchanan               T: [phone] 
  / John Coles                                 4218 
 

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.

This information is provided by RNS

The company news service from the London Stock Exchange

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February 11, 2016 05:52 ET (10:52 GMT)