eServGlobal Limited HomeSend Performance Update (4156Q)
19 Febbraio 2019 - 8:01AM
UK Regulatory
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
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