PUNT OF THE WEEK: Eservglobal offers electronic wallets and cross-border payment systems

What is it?

Sydney-based eServGlobal offers mobile services such as electronic wallets, customer service platforms, as well as cross-border payment systems.

What’s the latest?

It said last week that its gross profits rose to £2.7million in 2018, compared to a £3.5million loss the previous year. It made an overall loss of £10.4million, but this had fallen from £22.7million previously.

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Who backs it?

Investment funds such as Lombard, Legal & General, Canaccord and M&G. The firm also has a joint venture with US payments group Mastercard, called Homesend. 

This offers cross-border payment services to banks, clearing houses and money transfer firms.

Why you should invest

Lorne Daniel, director of research at broker Finncap, says the key value in eServGlobal is its interest in Homesend. 

Mastercard’s joint backing gives it a major boost and means it has the fire power ‘to dominate the international money transfer market’.

…And why you shouldn’t

Because eServGlobal is still loss making. It is trying to sell its Paymobile business, but no buyer has been found yet.