OREANDA-NEWS. eServGlobal (LSE: ESG.L & ASX: ESV.AX), the provider of end-to-end mobile financial services to emerging markets, is pleased to announce the commercial launch of mobile money services with Zain Iraq. The service was soft-launched in January and has already attracted strong interest.

The service is called 'Zain Cash' and is offered by Iraq Wallet, which is an authorised company from the Central Bank of Iraq (CBI). Through Zain Cash, customers can have a mobile wallet linked to their SIM card, enabling customers to make financial transactions easily and at any time (Cash-In/ Cash-out, transfer money from wallet to another, recharge for prepaid account & bill payment for postpaid account).

Scott Gegenheimer, CEO, Zain Group, said, "We are embracing the opportunity to launch new services that improve the livelihoods of the communities we serve, and through eServGlobal's solution, we will be able to offer life-enhancing mobile services and cement our position as a market leader in the mobile-money arena across our region."

John Conoley, Exective Chairman, eServGlobal, said, "We are proud to be working with this innovation Operator Group as they roll out market-leading solutions across rapidly evolving markets. We look forward to continued collaboration with the Zain Group to launch mobile financial services across their operations."

eServGlobal has a framework agreement with the Zain Group to provide an end-to-end mobile money and EVD (electronic voucher distribution for prepaid rechage) solutions across Zain Group's operations.

Mobile money, mobile financial services, mobile recharge and distribution are key elements in the Zain Group strategy. Through innovative product design and marketing strategies, Zain aims to maximise the benefit of mobile money, electronic recharge and distribution, giving customers new alternatives to financial transactions and account recharge. Zain Group coverage extends to more than 45.6 million customers spanning Kuwait, Bahrain, Iraq, Jordan, Lebanon, Saudi Arabia, South Sudan and Sudan. Notably, in several of Zain's markets, over 90% of the population does not have access to banking facilities.

Zain's mobile commerce services have a transformational effect on unbanked populations as they open financial systems to formally excluded population segments. This kind of change is crucial in emerging markets where financial inclusion is key to economic development.

eServGlobal is showcasing their mobile money solutions at the Mobile World Congress in Barcelona, 22 - 25 February. eServGlobal will be hosting a live demonstration on its stand located at Hall 7 Stand i61.                                                                                                                                                                                   

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.

For further information, please contact:

eServGlobal

www.eservglobal.com

Alison Cheek, VP Corporate Communications

T: +33 (0)1 4612 7746

Canaccord Genuity Limited (Nomad and Broker)

Simon Bridges / Cameron Duncan / Emma Gabriel

www.canaccordgenuity.com

T: +44 (0) 20 7523 8000

Alma PR (Financial Public Relations)

Josh Royston / Hilary Buchanan / John Coles

 

www.almapr.co.uk

T: +44 (0) 208 004 4218

 

About Zain

Zain is a leading telecommunications operator across the Middle East and Africa providing mobile voice and data services to over 45.6 million active customers as of 31 December, 2015. With a commercial presence in 8 countries, Zain operates in: Kuwait, Bahrain, Iraq, Jordan, Saudi Arabia, Sudan and South Sudan. In Lebanon, the Group manages 'touch' on behalf of the government. In Morocco, Zain has a 15.5% stake in Wana Telecom, now branded 'INWI', through a joint venture. Zain is listed on Kuwait Stock Exchange (stock ticker: ZAIN).