EastNets Partners With BICS to Offer Global Mobile Remittance Solution

DUBAI, UAE, October 25, 2010 /PRNewswire-FirstCall/ --

- en.MoRe Deployed Through BICS' Network of 250 Mobile Operators

EastNets, a leading global provider of compliance and payments solutions and services, has announced that it has recently signed a partnership with BICS, a leading global provider of Voice, Messaging, Roaming, Connectivity and Mobile Financial Services, to connect its newly launched mobile remittance solution known as en.MoRe to BICS' HomeSend solution.

The partnership between EastNets and BICS creates a new mobile remittance solution, scheduled to go live this month, enabling consumers to simply use their mobile phone to trigger a money transfer transaction in an easier, more cost-effective and more convenient way compared with traditional remittance approaches.

"EastNets en.MoRe solution delivers great value to our HomeSend customers who can already send mobile to mobile transactions," said Frederic Schepens, Senior Vice President, BICS. "With this partnership we essentially bring a mobile hub together with a bank hub to create a unique solution that allows our HomeSend customers to transfer money from their electronic wallet to a bank where it can be collected as cash. We are excited about this relationship because together we offer a solution that is very scalable and can build market share very quickly."

"EastNets' partnership with BICS is a key step in line with our goal to establish a strong presence in the growing remittances market. We are likewise confident that en.MoRe will allow BICS to expand its own market base by acquiring new customers who want to utilise the mobile remittance solution," said Hazem Mulhim, CEO of EastNets.

This partnership will help mobile network operators and banks to target the estimated 200 million migrant workers around the globe who send money to friends and families on a regular basis. EastNets and BICS have plans to expand the market coverage in the coming months, starting with a many-to-many network between mobile network operators in 10 sending countries and banks in 15 receiving countries. The service will be offered in key markets such as Pakistan, India, the Philippines and the Middle East.

en.MoRe is a technology platform and payment scheme to enable banks to interoperate globally. It allows banks to connect to a single hub that is already linked via SWIFT to more than 8,000 banks worldwide. EastNets is currently in the process of obtaining certification for the SWIFTReady Workers' Remittance Label with its en.MoRe solution. EastNets can also offer electronic wallet services and solutions that comply with anti-money laundering regulations to simplify implementation.

The HomeSend solution on the other hand is a global hub service that allows any mobile operator in any country to access and benefit from the international remittance market. Powered by eServGlobal and operated by BICS, it enables cross border person-to-person money transfers, airtime exchange and roaming recharge.

About EastNets

EastNets is a leading provider of global compliance and payment solutions and services with over 1,000 customers in 120 countries. Founded in 1984, EastNets has over 25 years of experience serving financial institutions and corporates around the globe. EastNets provides Compliance Solutions including anti-money laundering and anti-fraud; Resilient SWIFT Solutions for SWIFT FIN/XML reporting, duplicate detection management, disaster recovery, and outsourced SWIFT connectivity with its SWIFT Service Bureau; and Mobile Remittances Solutions enabling secure, compliant mobile remittances. In addition, EastNets delivers a full range of SAA payment architecture consulting, implementation services, training and maintenance to help clients protect, manage and improve their SWIFT environment. For more information, please visit http://www.eastnets.com.

About BICS

BICS delivers best in class global solutions for Voice, Messaging, Roaming, Connectivity and Mobile Financial Services to hundreds of telecommunication providers around the world.

With our passionate and creative teams located in Brussels, Bern, Monaco, Dubai, Singapore and New York, we continuously strive to provide our customers with the highest levels of quality, reliability and interoperability that enable them to maximise End-user value.

Our innovative approach is visible through our place at the forefront of the market consolidation and technology advancement. We are a joint venture of Belgacom, Swisscom and MTN, and have rolled out transformative Next Generation Networks (NGN). This together with our continued focus on Value Added Services for Mobile Operators and our growth strategy has enabled us to reach a world-leading position both on the International Voice and Mobile Data markets.

For more information, please visit: http://www.bics.com.

About eServGlobal

eServGlobal specializes in Mobile Money solutions and Value-Added Services (VAS), to help Telco Service Providers increase their revenue and gain and maintain customer ownership.

eServGlobal invests heavily in product development, using carrier-grade, next-generation technology and aligning with the requirements of more than 60 customers in over 45 countries. For 24 years, mobile, fixed, Internet and multiplay telco providers have used our capabilities to lead and innovate in their local markets, leveraging their core assets and their trusted agent and subscriber relationships.

With 14 offices globally, eServGlobal provides full "end-to-end" and "any account to any account" Mobile Financial Services and International Money Transfers. Our HomeSend solution is the only mobile-centric international remittance hub to gain endorsement from the GSM Association.

Our Value-Added Services in promotions, loyalty, messaging and multiplay are focused around the transaction and enable service providers to engage with the subscriber in a personalized and dynamic manner. To reduce time to market and manage exposure to CAPEX, we now offer multiple licensing alternatives, including SaaS-based flexible, revenue-share pricing.

eServGlobal is listed on the Australian Stock Exchange (ESV) and the London Stock Exchange AIM (ESG).

More information at: http://www.eservglobal.com

SOURCE eServGlobal