Two mobile financial services companies, Nepal-based MNepal and France-based eServGlobal, have partnered to offer a new unnamed mobile money platform that will allow customers of member banks in Nepal to deposit, withdraw and transfer funds via their mobile phones. In addition, users will be able to access microfinance services such as loans and insurance. Information on the specific banks and financial institutions participating in the mobile money platform is unavailable.
EServGlobal offers services including mobile wallets, mobile commerce, “top-ups” to recharge subscriber accounts, and agent management features to approximately 100 companies in approximately 65 countries, primarily in emerging markets. As of 2013, the company reported total assets of USD 108 million. Information on MNepal such as its number of subscribers is not available.
By Meraj Husain, Research Associate
About MNepal
MNepal is a mobile financial services provider headquartered in Kathmandu, Nepal. It was incorporated in 2011 by Nepal Investment Bank Limited, Mercantil, CAS Trading House (CAS), FocusOne Mobile Solution, Himalayan Infrastructure Fund (HIF) and SmartChoice Technologies (SCT). Information on the number of subscribers served by MNepal is not available.
About eServGlobal
Founded in 1983, eServGlobal is a financial services provider for emerging markets that is headquartered in Paris, France. It specializes in mobile money solutions and value-added services (VAS) in partnership with telecommunications service providers. EServGlobal offers services to approximately 100 companies in approximately 65 countries, including mobile wallets, mobile commerce, “top-ups” to recharge subscriber accounts, and agent management features. As of 2013, the company reported total assets of USD 108 million.
Sources and Additional Resources
[1] eServGlobal: “eServGlobal and MNepal to offer mobile financial service solution in Nepal,” http://www.eservglobal.com/mediacenter/press-releases/eservglobal-and-mnepal-offer-mobile-financial-service-solution-nepal
[2] Mobile Payments Today: “MNepal, eServGlobal to partner for Nepalese mobile financial services,” http://www.mobilepaymentstoday.com/article/229023/MNepal-eServGlobal-partner-for-Nepalese-mobile-financial-services
MicroCapital, February 24, 2013, “MNepal Launches Mobile Money Platform in Nepal,” https://www.microcapital.org/microcapital-brief-mnepal-launches-mobile-money-platform-in-nepal/
MicroCapital, August 20, 2013, “eServGlobal, Zain Group Bring Collaborative Mobile Money Service to Africa and the Middle East,” https://www.microcapital.org/microcapital-brief-eservglobal-zain-group-bring-mobile-money-to-africa-and-the-middle-east/
MicroCapital Universe Profile: MNepal
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=MNepal
MicroCapital Universe Profile: eServGlobal
https://www.microcapital.org/microfinanceuniverse/tiki-index.php?page=eServGlobal
Do you know that MicroCapital publishes the MicroCapital Monitor newspaper each month? Find out more at https://www.microcapital.org/products-page/
Similar Posts:
- MICROCAPITAL BRIEF: China Mobile’s Zong Unveils PayMax Payment Service in Pakistan
- MICROFINANCE PAPER WRAP-UP: “Mobile Money, Interoperability and Financial Inclusion;” by Markus K Brunnermeier et al; published by National Bureau of Economic Research (NBER)
- MICROCAPITAL BRIEF: Activists Block Access to 3 Microfinance Institution Branches in Nepal, Accusing MFIs of Causing Over-indebtedness
- MICROCAPITAL BRIEF: I&M Bank Enables Spenn Mobile App Users to Send Money to Financial Institutions Across Rwanda
- MICROFINANCE EVENT: 8th Annual Symposium of the Nigerian Microfinance Platform; June 20-21, 2023; Lagos, Nigeria