7th Nov 2013 07:00
eServGlobal Limited (eServGlobal or the "Company")
HomeSend announces new hub member, Philippines largest MTO, M Lhuillier
Significant expansion of key Philippines remittance receiving market
Paris: 7 November2013
eServGlobal (LSE: ESG & ASX: ESV), the provider of end-to-end mobile financial services to emerging markets, announces a new agreement for the HomeSend remittance service between its strategic business partner BICS and M Lhuillier, the largest Money Transfer Organisation in the Philippines.
Through connection to the HomeSend hub, M Lhuillier users will be able to receive remittances from key sending markets in the UK, Europe, US, Canada, GCC Countries, Japan, Malaysia and Switzerland. The first corridors are expected to go live in January 2014. M Lhuillier has over 1,600 branches throughout the Philippines allowing their users to easily cash-in, cash-out and transfer money around the country.
The Philippines is regarded as a 'cradle' for innovative mobile money and money transfer services in emerging markets, it is home to some of the earliest and most successful mobile money services in the world. Filipino's have been quick to embrace new technology and the advantages it brings.
The Philippines is also one the largest recipients of international remittance in the world. Nearly 1 in 10 Filipino's live and work outside the country, with a significant proportion of them regularly remitting money back to their family in the Philippines. The World Bank recently reported that the Philippines will receive an estimated US$26 Billion in remittances in 2013. It is the third highest remittance receiving nation in the world behind India and China.
Paolo Montessori, CEO and Managing Director, eServGlobal, said "The story of HomeSend's success continues to spread and we welcome M Lhuillier to our extensive list of hub members. The Philippines is an important receiving market for HomeSend and we are proud to be working with innovative organisations like M Lhuillier.
"This year we have continued to announce new members for HomeSend, the hub like nature of our service means that with each new member we extend our reach and therefore create value for all existing members. Along with our efforts to grow the hub, we are continuously rolling out new live corridors and we are are confident that we will meet our goal of 50 live corridors before the end of 2013."
HomeSend is a service offered by BICS, eServGlobal's strategic business partner and is based on eServGlobal technology.
About eServGlobal
eServGlobal has been a source of innovative solutions for mobile and financial service providers for 30 years. eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 90 customers in over 65 countries.
Our mobile money solutions put feature-rich mobile financial services at the fingertips of users worldwide, covering the full spectrum of mobile wallet, mobile commerce, recharge and agent management features. The market leading international remittance service HomeSend® is based on eServGlobal technology and offered by our strategic business partner BICS.
eServGlobal also offers a comprehensive suite of sophisticated, revenue generating Value-Added Services to engage subscribers in a dynamic manner. These services can be seamlessly integrated with our mobile money portfolio to extend loyalty and promotion offers.
For further information, please contact:
eServGlobal | www.eservglobal.com |
Alison Cheek, Communications Manager | T: +33 (0) 1 4612 7746 |
Cenkos Securities plc Ivonne Cantú/Stephen Keys (Nomad) | www.cenkos.com T: +44 (0) 20 7397 8980 |
Charles Stanley Securities Dugald Carlean/Paul Brotherhood | www.csysecurities.com T: +44 (0) 20 7149 6000
|
Newgate Threadneedle Caroline Evans‐Jones/Josh Royston/Hilary Millar | www.newgatethreadneedle.com T: +44 (0) 20 7653 9850 |
About BICS
BICS delivers best-in-class international wholesale solutions to any communication service provider worldwide. Through its Mosaic portfolio, a comprehensive, flexible and innovative suite of solutions designed to be used individually, or collectively, BICS meets the existing and future requirements of the global telecoms industry.
BICS' headquarter is located in Brussels with regional offices in Bern, Dubai, New York and Singapore. We also have a satellite office in Beijing and local representation in Accra, Cape Town, Miami, Montevideo, Nairobi and Toronto. Our team continuously strives to provide our customers with the highest levels of quality, reliability and interoperability enabling them to maximise their end-user value. With our successful consolidation strategy, and a continuing focus on technological advancement and innovation, we have achieved a world-leading position in the international Voice and Mobile Data markets.
For more information, please visit: www.bics.com or contact Katrien Busschaert at BICS:
Katrien Busschaert
Marketing Manager
Tel. +32 2 548 16 55
Mob. +32 474 98 46 75
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