eServGlobal has launched a smartphone app for mobile money services in emerging markets. The white-label app will be part of eServGlobal's end-to-end mobile money solution, supporting deployments worldwide.
The app has already been sold to five existing eServGlobal customers including projects in Cabo Verde, Armenia, and Somalia. Service providers can configure the app to suit the needs and brand of their deployment. The app will be available for end users through an app store and is available for both Android and iOS devices, serving more than 95% of the market.
Stephen Blundell, COO, eServGlobal, said: "Mobile money in emerging markets is a rapidly evolving space and service providers need solutions which anticipate their subscribers' needs and enable them to propose industry leading features. With the rapid spread of low-cost smartphone through emerging markets, service providers need to look to features such as apps to ensure the success of their mobile money offering."
Smartphone use in emerging markets is expected to experience significant growth in the coming years following the market-entrance of low cost handsets, starting as low as $25.
The GSMA reports that smartphone penetration has reached 35% worldwide, and we forecast this to rise to 65% by 2020. Translated into absolute terms, this is an increase of 3 billion users between 2013 and 2020. However, unlike the boom to now, emerging markets will drive this next wave of growth, presenting a vast and largely untapped audience with a low cost route onto the internet, according to the GSMA.