DALLAS, TEXAS and MUMBAI, INDIA - (NewMediaWire) - November 20, 2015 - Calpian, Inc. (OTC PINK: CLPI), an innovative global mobile payments technology and processing company, announces its Mumbai-based subsidiary, MoneyOnMobile, increased monthly processed transaction volume in October 2015 to Rs 4.663 billion Indian Rupees or $71.7 million US Dollars, an increase of 16.6% from September's Rs 3.998 billion Indian Rupees or $60.9 million US Dollars. MoneyOnMobile has been accessed by more than 155.6 million cumulative unique users since its inception, which is an increase of 3.5 million unique users accessing the service in October 2015.
MoneyOnMobile is a mobile payments service provider that allows Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one person to another using simple SMS text functionality. The service is now offered to Indian consumers through 282,276 retail locations throughout the country, which is an increase of 3,522 stores from September's 278,754 stores.
"Consumers continue to see great value in using our service as proven by our strong growth numbers," said Shashank Joshi, Founder and Managing Director of MoneyOnMobile.
Harold Montgomery, Calpian Chief Executive Officer, commented: "The strong regulatory environment in India provides a solid business environment for bringing financial services to Indian consumers. We are very pleased to see the rapid adoption of MoneyOnMobile services continue."
MoneyOnMobile recognizes revenue for transactions as services are performed and when the digital currency is transferred from a consumer's wallet. Revenue varies depending on the type of transaction. Total processed volume includes consumer wallet inbound load amounts and outbound purchase transaction amounts since each is considered a separate transaction under industry norms. Processed volume and other statistics cited herein are intended to be used as general indicators of growth only.
Calpian, Inc. is a global mobile payments technology and processing company offering mobile payment services through Indian subsidiary MoneyOnMobile and domestic transaction services through Calpian Commerce. MoneyOnMobile is a mobile payment service provider that enables Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one cell phone to another using simple SMS text functionality. Calpian Commerce provides the U.S. merchant community with an integrated suite of payment processing services and related software products. Read about Calpian and MoneyOnMobile in The New York Times at New York Times -- Money on Mobile.
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