eServGlobal announces mobile money in Cabo Verde

eServGlobal Limited (eServGlobal or the "Company")

eServGlobal announces mobile money project with GMT Cabo Verde

Barcelona: 5 March 2015

At Mobile World Congress today, eServGlobal (AIM:ESG & ASX:ESV), the provider of mobile financial services to emerging markets, announced a project to supply an end-to-end mobile money platform for GMT Cabo Verde, a financial institution based in Cabo Verde.

The mobile money service will launch this year and provide users with the ability to perform domestic and international money transfers. The service is mobile operator agnostic, and accessible to any person in Cabo Verde and abroad by downloading the associated smartphone application or through the GMT agents network. The users will be offered the option of a companion payment card, allowing the mobile wallet to be used anywhere in the world that traditional card payments are accepted.

Cabo Verde (also known as Cape Verde) is an island country spanning an archipelago of 10 volcanic islands located 570 kilometres off the coast of Western Africa. The geographically dispersed population, the importance of its disapora and the high levels of mobile penetration make Cabo Verde an ideal environment for mobile money which offers a safe, convenient way to access financial services without needing to be close to a traditional bank.

This will be the first mobile money service offered in the country and to its diaspora around the world and is supported by the government. This support has been shown to have a significant impact on the success of a mobile money project. The Governement of Cabo Verde recognises the potential that mobile money has to promote financial inclusion and also boost the economy through the creation of more employment opportunities and competences in the field of telecommunications and financial services.

Recognizing the importance of the agents network for the success and growth of Mobile Money, GMT and the Government of Cabo Verde are partnering to build a training program for mobile financial service agents. This program will include courses on KYC, AML, financial and mobile money features and services. The agent network is the 'face' of the mobile money service to the end user and has a crucial role in the promotion and smooth operation of the system.

Stephen Blundell, COO, eServGlobal, said, "This type of government-supported training program is an example of innovation and forward-looking mobile money practices. We are thrilled to be part of this pioneering experience and are looking forward to the successful launch and growth of mobile money in Capo Verde"

Raphaël Bassama, CEO, GMT Cabo Verde, said, "We chose eServGlobal to supply this mobile money system for us based on their market-proven success and experience, in particular in Africa and the Middle -East. The feature-rich PayMobile product allows us to start with a bundle of services that should be appealing to our customers around the world. ."

Through eServGlobal's modular approach, GMT Cabo Verde is able to optimise the solution to suit its needs today and also to grow the service by deploying new features as the subscriber base matures. In markets with a high rate of mobile penetration and limited access to formal financial features, there is a logical path to progress to potential mobile money launches.

PayMobile is an end-to-end solution for mobile money and mobile financial services. It offers the full spectrum of mobile wallet, mobile commerce, recharge and agent management features.

To watch an interview with eServGlobal COO, Stephen Blundell; GMT Cabo Verde Chairman, José Brito; and GMT Cabo Verde CEO, Raphaël Bassama go to http://goo.gl/TtlvCX 

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 features. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 65 customers in over 50 countries.

Together with MasterCard and BICS, eServGlobal is a joint venture partner of the HomeSend global payment hub, a market leading solution based on eServGlobal technology and enabling cross-border money transfer between mobile money accounts, payment cards, bank accounts or cash outlets from anywhere in the world regardless of the users location.

eServGlobal also builds on its extensive experience in the telco domain to offer a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner.

eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years.

For further information, please contact: