eServGlobal and the Zain Group have been named as winners of a Global Telecoms Business Innovation Award for mobile money deployments in Jordan and Iraq.
The Global Telecoms Business Innovation Awards recognise innovative projects in the global telecommunications industry, highlighting the collaboration and partnership between operators and vendors. The award winners were announced during a ceremony held in London on 25 May.
eServGlobal and Zain were recognised for launching a new service, which allows users to access convenient and secure financial services through their mobile. Through the service, called 'Zain Cash', customers can have a mobile wallet linked to their SIM card, enabling 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).
Zain Cash is currently live at Zain operations in Jordan and Iraq and aims to provide a mobile wallet to millions of customers in the two countries in coming years. The service is built on eServGlobal's flagship technology platform, PayMobile.
eServGlobal's PayMobile is an end-to-end platform for mobile financial services and advanced recharge. It is a market-proven, state-of-the-art platform which currently supports deployments around the world, adapting to the differing needs of each market.
James Hume, CTO, eServGlobal, said:
"The collaboration between eServGlobal and Zain highlights what can be achieved when two innovative companies work together to launch life-changing services. Early customer reception for Zain Cash has been positive. eServGlobal is proud to be recognised as a leader within the rapidly developing space of mobile financial technology. We look forward to continuing our work with Zain to launch these services in more markets."
Scott Gegenheimer, CEO fo Zain Group, said:
"This recognition confirms Zain's position at the forefront of the mobile money revolution in the region and that eServGlobal are the right partners for our continued success in this space. We are not just innovating for innovation's sake, but that the services and initiatives we are developing are really impacting people's lives positively, further supporting our aspirations on becoming a digital lifestyle operator."
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 financial 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.
Mobile money, mobile financial services, mobile recharge and distribution are key elements in the Zain Group strategy. Zain Group coverage extends to more than 45.5 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.