eServGlobal wins project with ASGSM.MOBI to bring mobile money to Somalia
Paris, 1 March 2012
eServGlobal will work with Dubai based mobile network operator, ASGSM.MOBI, to bring mobile money services to ASGSM.MOBI subscribers both in Somalia and abroad.
ASGSM.MOBI holds a GSM and 3G license for Somalia and has been operating in the country since 2009.
ASGSM.MOBI will utilise eServGlobal’s PayMobile platform to offer an end-to-end solution including a mobile wallet system and mobile money and mobile commerce services such as cash-in/cash-out at mobile-money agents, money transfer, bill payment services, airtime top-up from mobile wallet and payment at a merchant.
“As mobile connections rapidly spread across emerging markets, eServGlobal has built on our extensive history in the telco world to build offers which offer real value to both service providers and users” said Katia Hilal, VP Marketing & Strategic Alliances, eServGlobal.
“We chose eServGlobal for this project because of their flexibility, the quality and compliancy level of their solution and the ability to extend the platform with new functionality as the market matures,” said Abdullahi Abdi Hussein, President and CEO, ASGSM.MOBI.
To encourage quick user adoption, the solution will be integrated with existing domestic money transfer companies, such as Hawala companies, traditional banks, ATM Switches etc.
The PayMobile platform will be hosted in Dubai to ensure the highest levels of security, availability and support.
Somalia is a country in the midst of rapid economic and social change. With a population of 9.3 million, mobile connections have risen dramatically in the past two years to exceed 3 million connections and are expected to reach more than 5 million by 2015.
In the absence of a formal banking sector, alternative money transfer/remittance services have sprouted throughout the country, handling up to $1.6 billion in transfers annually. The high reliance on money transfer combined with the growth of mobile connections, means that mobile money has the potential to offer widespread and diverse benefits.
eServGlobal’s PayMobile platform is an end-to-end mobile money solution offering a comprehensive suite of services, allowing operators and financial service providers to build offers which are optimised to their needs. PayMobile is currently deployed in more than 25 countries and used every day by more than 250 million subscribers worldwide. PayMobile also has a native interface with the HomeSend international money transfer hub, offered in partnership with BICS, addressing key customer requirements relating to future demand for international remittance.
Image copyright: Flickr/Chris Daley / Children at Play in Somalia