19th Feb 2014 08:45
LONDON (Alliance News) - eServGlobal Ltd said Wednesday it has signed a Memorandum of Understanding with BDCOM Online Ltd for a potential mobile financial services joint venture in Bangladesh.
The mobile financial services company said the MoU has been signed to allow the firms to explore the possibility of entering into a joint venture to provide a platform for Mobile Financial Services across Bangladesh.
BDCOM, an internet services provider, is already operating in the region; in 2009 the firm acquired SMILE, one of the largest Fibre Internet Broadband Service Providers in Bangladesh. A deal would allow the firm to extend the reach of its services in the region, said the firms' Chairman Wahidul Haque Siddiqui.
Paolo Montessori, CEO and Managing Director of eServGlobal, said, "Bangladesh is an ideal market to build an end-to-end mobile payment ecosystem. BDCOM is an innovative company and we are pleased to be working with them to introduce services which have the potential to significantly improve the lives of people across the country."
Shares in eServGlobal were trading up 3.74% at 55.5 pence per share Wednesday morning.
By Alice Attwood; [email protected]; @AliceAtAlliance
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