Calpian's MoneyOnMobile Increases Monthly Processed Transaction Volume by 11%
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 January 2016 to Rs 5.863 billion Indian Rupees or $86.0 million US Dollars, an increase of 11.3% from December's Rs 5.270 billion Indian Rupees or $79.9 million U.S. Dollars. MoneyOnMobile has been accessed by more than 166.1 million cumulative unique users since its inception, which is an increase of 3.6 million unique users accessing the service in January 2016.
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 298,203 retail locations throughout the country, which is an increase of 7,040 stores from December's 291,163 stores.
Harold Montgomery, Calpian Chief Executive Officer, commented: "2015 was a great year for MoneyOnMobile where we saw over 300% growth in monthly processing volumes. The entire team has worked hard, and it is great to see this paying off again in January."
"We have started off 2016 with another strong month of growth. I am also excited about announcing our new free accident insurance program for our domestic remittance consumers. We are doing well for India by doing good in India," remarked Shashank Joshi, Founder and Managing Director of MoneyOnMobile.
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.
About Calpian Calpian, Inc. is a global mobile payments technology and processing company offering mobile payment services through Indian subsidiary MoneyOnMobile. 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. Read about Calpian and MoneyOnMobile in The New York Times at New York Times - Money on Mobile.
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