DALLAS, TX and MUMBAI, INDIA / CRWEPRESSRELEASE / September 15, 2015 /Calpian, Inc. (OTCMKTS:CLPI), an innovative global mobile payments technology and processing company, announces its Mumbai-based subsidiary, Money-On-Mobile, increased monthly processed transaction volume in August 2015 to Rs 3.209 billion Indian Rupees or $48.4 million US Dollars, an increase of 7.9% from July’s Rs 2.974 billion Indian Rupees or $46.5 million US Dollars. Money-On-Mobile has been accessed by more than 148.6 million cumulative unique users since its inception, which is an increase of 3.35 million unique users accessing the service in August 2015.
Money-On-Mobile 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 275,564 retail locations throughout the country, which is an increase of 2,636 stores from July’s 272,929 stores.
“Money-On-Mobile’s growth strategy continues to gain momentum in August with increases to both store count and number of cumulative users that have accessed our services,” said Shashank Joshi, Founder and Managing Director of Money-On-Mobile.
Harold Montgomery, Calpian Chief Executive Officer, commented: “Our focus in India to gain market share continues and has resulted in continuing month-on-month increases in processed volume.”
Money-On-Mobile recognizes revenue for transactions at varying rates depending on the type of transaction when the funds leave the consumer wallet. Total processed volume includes consumer wallet load amounts and 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 Money-On-Mobile and domestic transaction services through Calpian Commerce. Money-On-Mobile 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 Money-On-Mobile in The New York TimesatNew York Times – Money on Mobile.
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SOURCE: Calpian, Inc.