TIDMESG

RNS Number : 4156Q

eServGlobal Limited

19 February 2019

eServGlobal Limited ("eServGlobal" or the "Company")

HomeSend Performance Update

19 February 2019

eServGlobal (LSE: ESG.L & ASX: ESV.AX), a pioneering digital transactions technology company, is pleased to provide the following update on the performance of HomeSend to 31 December 2018.

HomeSend was originally focussed solely on the person-to-person remittance market. In recent years HomeSend has sought to expand its scope to include more account-to-account flows, both retail and commercial. In the second half of 2018, HomeSend processed business-to-business disbursements on its platform for the first time resulting in an increase in the average transaction value of 35% during H2 2018.

In Q4 2018, the gross value flows across the HomeSend platform remained largely unchanged with less than a 1% movement when compared with Q3 2018. The majority of the quarter's transactions were generated from person-to-person remittances. In December 2018, approximately 32% of gross value flows across the HomeSend platform were generated from account-to-account transactions.

Enabling business-to-business disbursements for financial institutions is an area of focus and continued development in 2019. HomeSend's ability to deliver across multiple markets and channels is a core competitive asset and is a key area of investment within the business with a focus on the expansion and strengthening of its footprint through a combination of direct connectivity and regional network partners.

HomeSend has established and validated reach in 60 key destination markets under its current model representing 50% of global trade flows and 70% of global remittances and it aims to increase this reach to cover markets which represent approximately 80% of global trade flow destinations and remittance destinations in 2019. Key markets such as the United States of America, United Kingdom, Australia and a number of European markets were added and utilised for the first time in 2018. As at the end of December 2018, HomeSend had approximately 50 implementation projects ongoing with a combination of both send and receive banking partners.

Real-time delivery and clearance capacity was improved during the year through the addition of several Fast ACH markets to the HomeSend footprint, including notable examples such as the United Kingdom and India. Connectivity to Fast ACH markets offers the ability to accelerate account-to-account delivery times on cross-border transactions with funds delivery typically measured in minutes, not days. Fast ACH connectivity is in addition to HomeSend's existing capacity to deliver in near real time to mobile money accounts and to card into select markets.

In 2018, HomeSend processed account-to-account transactions originating from Mastercard Send for Cross Border for the first time from a very small number of initial implementations.

For further information, please contact:

 
 eServGlobal                                          www.eservglobal.com 
 John Conoley, Executive Chairman                     investors@eservglobal.com 
  Tom Rowe, Company Secretary 
  Andrew Hayward, Chief Financial Officer 
  Alison Cheek, VP Corporate Communications 
 finnCap Limited (Nomad and Broker)                   www.finnCap.com 
  Corporate Finance: Jonny Franklin-Adams /            T: +44 (0) 20 7220 
  Anthony Adams / Hannah Boros                         0500 
  Corporate Broking: Tim Redfern / Richard Chambers 
 Tulchan Communications LLP                           www.tulchangroup.com 
  Jonathan Sibun / Matt Low                            T: +44 (0)207 353 4200

About eServGlobal

eServGlobal (AIM:ESG, ASX:ESV) is a pioneering digital financial transactions technology company, enabling financial and telecommunications service providers to create smoother transactions for their customers through deep technical expertise and rapid implementation. Built on the latest technology platforms, eServGlobal offers a range of transaction services including digital wallets, commerce, remittance, recharge, rapid service connection and business analytics. eServGlobal combines more than 30 years' experience, with an agile, future-focused mindset, to align with the requirements of customers and partners around the globe.

Together with Mastercard, eServGlobal is a joint venture partner of the HomeSend global payment hub, enabling cross-border transfer between bank accounts, cards, mobile wallets, or cash outlets from anywhere in the world.

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact rns@lseg.com or visit www.rns.com.

END

UPDFMGMZZRNGLZZ

(END) Dow Jones Newswires

February 19, 2019 02:01 ET (07:01 GMT)

Eservglobal (LSE:ESG)
Historical Stock Chart
Von Mai 2024 bis Jun 2024 Click Here for more Eservglobal Charts.
Eservglobal (LSE:ESG)
Historical Stock Chart
Von Jun 2023 bis Jun 2024 Click Here for more Eservglobal Charts.