Mobile Embrace expands into Bahrain

Company News

by Jessica Ellerm

Mobile Embrace Limited (ASX:MBE) has announced it is expanding its direct carrier billing operations into Bahrain via a partnership with VIVA Bahrain, a subsidiary of Saudi Telecom.

The deal will see MBE now in operation across 9 countries, with further new market entries pegged.

To date international direct carrier billing generates $600K in monthly revenue for the business, with volume accelerating rapidly.

MBE has pointed to low credit card penetration and the rise of smartphones as the principle payment method as key drivers of growth for the company’s services in the Middle East and North African region.

Mobile Emrace Limited reported a net profit of $4.9 million at 30 June 2016.

Jessica Ellerm

Finance News Network
Jessica joined FNN in April 2016 and presents the Australian Share Market Outlook, and reports on the morning's leading business stories. Alongside FNN Jessica is a fintech industry commentator, writing for her own blog and a number of international online publications.