eServGlobal & MNepal to offer MFS in Nepal

eServGlobal Limited (eServGlobal or the "Company")

eServGlobal and MNepal to offer mobile financial service solution in Nepal

Paris: 5 March 2014

eServGlobal (LSE: ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, announces that it will partner with MNepal Limited, a consortium of bank and non bank entities, to offer a mobile financial service solution in the Nepal market.

eServGlobal and MNepal will offer a shared technology platform which can be accessed by all banks and financial institutions in the country to extend mobile financial services to their users. The service will operate as a common brand mobile financial service allowing multiple banks and financial institutions to join as members.

Paolo Montessori, CEO and Managing Director, eServGlobal, said, "MNepal are an exciting company focussed on finding new and dynamic ways to extend valuable services to the people of Nepal. Their focus on innovation presents many synergies with eServGlobal. This projects represents an opportunity to bring some coherence to the mobile finance market in Nepal. Offering a neutral, agnostic and interoperable mobile money platform which can be accessed by all, will open the possibilities of mobile money to the whole country.

"I am confident that this project will not only be successful in the Nepalese market but will serve as an example which will be replicated by mobile money solutions across other regions."

Mangesh Lal Shrestha, Board Director, MNepal,said, "We believe that, together with eServGlobal, we can build a financial ecosystem which will meet the needs of users across our nation, both today and for years to come. We have partnered with eServGlobal due to their strong foothold in the industry and proven records and vision, which aligns with MNepal's vision. We hope to scale in an examplary manner within the evolving mobile money and commerce ecosystem for inclusive, accessible and state of the art platforms. We believe this partnership today is just the beginning."

The service will offer a comprehensive suite of mobile money services to users as well as extending to provide mobile-centric microfinance services such as loans, savings and insurance complemented by loyalty and segmentation features.

The population of Nepal is approximately 30 million. According to the World Bank, only 25% of the population of Nepal over the age of 15 hold an account at a formal financial institution, while around 70% of the population have a mobile phone. These factors make Nepal a very promising market for mobile financial services.

MNepal chose eServGlobal for this project because of the end-to-end nature of the solution and the ability to offer a single platform that can operate with any service provider irrespective of whether they are a bank or telco and the ability to support multiple brands from one installation.

About eServGlobal

eServGlobal (LSE: ESG, ASX: ESV) offers mobile money solutions which put feature-rich mobile financial services at the fingertips of users worldwide, covering the full spectrum of 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.

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 is partnering with MasterCard and BICS to build the HomeSend joint venture, the market leading international remittance hub service based on eServGlobal technology and enabling mobile money transfer in over 50 markets.

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

For further information, please contact:

About MNepal 

MNepal Ltd is a company established with the objective of providing a technical managed services and advisory services in terms of Mobile Money and Mobile Financial Services. MNepal's mission is to enable inclusive access to innovative financial products and services through a collaborative approach.

The beauty of MNepal would be the interoperability it offers to the member banks and financial institutions. Any bank customer can transact on any other bank/agent which is part of this network. This feature shall distinctly provide a better opportunity for the customers to transact in a much wider network from their own mobile device and or through the agent network throughout Nepal. This we consider as a boon to the Nepalese customers which they have been deprived as of now.

Due to its innovative approach in mobile financial services and financial inclusion, IFC (International Finance Corporation) a World Bank Group has chosen to help MNepal and has extended cooperation in enabling MNepal reach the unbanked masses in Nepal. MNepal shall be providing the banks and financial institutions consulting services in the area of agent network management, risk management, product designing and pricing so that they could reap the benefit efficiently and effectively.

For further information, please contact: