news out11 Feb 2016 12:41
11 February 2016
eServGlobal (AIM:ESG & ASX:ESV), the provider of end-to-end mobile financial services to emerging markets, announces that HomeSend, a Joint Venture between MasterCard, eServGlobal and BICS to create a market-leading global payment hub, has been granted a Payment Institution Licence by the Central Bank of Belgium.
A Payment Institution Licence is a key milestone in HomeSend's development strategy, allowing it to further strengthen and expand its market coverage. The establishement and maintenance of a Payment Licence was identified as a use of funds of the HomeSend capital raise announced in September 2015. The Licence enables HomeSend to operate in certain regions, including key new markets in the Asian subcontinent and Far East, and to secure new types of partners.
HomeSend is a disruptive, multilateral global payments hub, which allows all players in the substantial global payments space to interoperate via a single connection. HomeSend, as a B2B solution, plays a unique role in offering interconnectivity between, MTOs, Telcos, Banks, Mobile Money Providers and Financial Service Providers. The World Bank estimates that remittance flows to developing countries will reach US$516 billion in 2016.
Executive Chairman, John Conoley, said "Today's announcement is an important step forward for HomeSend. The Payment Institution Licence is a key enabler in building the addressable partner, geographical and consumer base of the HomeSend hub.
"This builds on the recent structural progress of going live with the new PCI-DSS compliant data centre, which will enable integration with the MasterCard network. eServGlobal remains confident in the progress and long-term success of the HomeSend Joint Venture."
Sign In
Follow the stocks
