Scott Gegenheimer, Zain Group chief executive officer (CEO).
Middle East and African network operator Zain has chosen eServGlobal to roll out mobile money services in its markets, which includes South Sudan and the Republic of Sudan.
HumanIPO reported last month the Zain Group has recorded mixed half year results, in part down to currency problems in South Sudan, although its subscriber base in its two African operations was still growing.
The three year deal between Zain and eServGlobal was agreed and signed on April 30, 2013, but was only announced yesterday.
“Together with the Zain Group, we have conceived a next-generation mobile financial services solution which will set the standard for holistic mobile money services,” said Paolo Montessori, chief executive officer (CEO) of eServGlobal.
“Our technology perfectly complements the Zain Group’s objective to provide innovative, world class services in all the areas that it operates. We are proud to be working with Zain to enrich the lives of users by putting secure financial services at their fingertips.”
Scott Gegenheimer, CEO of Zain Group, said: “Our aim is to create an eco-system whereby mobile money solutions provide our customers with increased security and flexibility, reducing the need to carry cash.”
As well as operating in the two Sudans, Zain Group also has a large presence in Kuwait, Iraq, Jordan, Lebanon and Saudi Arabia.
Mobile money has already proved hugely popular in East Africa, most famously with M-Pesa in Kenya, and the Middle East and African market is considered best suited to the concept with around 90 per cent of the population in some countries unable to take advantage of traditional banking facilities.