Mobile Money Goes Live in Iraq With 'Zain Cash'

Mobile Money Goes Live in Iraq With 'Zain Cash'

BARCELONA, Spain, February 23, 2016 /PRNewswire/ --

    eServGlobal (LSE: ESG.L & ASX: ESV.AX) 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.

(Logo:
http://photos.prnewswire.com/prnh/20120730/552126 )

    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 one 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, Executive Chairman, eServGlobal, said, "We are proud to be working with
this innovative 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 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. 

    Photo:
    http://photos.prnewswire.com/prnh/20120730/552126

Photo:http://photos.prnewswire.com/prnh/20120730/552126
http://photoarchive.ap.org/
Photo:http://photos.prnewswire.com/prnh/20120730/552126
http://photoarchive.ap.org/
eServGlobal

CONTACT: Alison Cheek VP Corporate Communications eServGlobal Telephone number: +33-6-7003-9078 E-mail: alison.cheek@eservglobal.com