India’s market leading mobile payments provider drives continued
growth, expands retail distribution network to 204,810 locations
DALLAS & MUMBAI, India--(BUSINESS WIRE)--
Calpian, Inc. (OTCQB: CLPI)
announced that for the month ending July 31, 2014, its Mumbai-based
subsidiary Money-On-Mobile has been accessed by 98.9 million unique
users since its inception with a total of 7.5 million users accessing
the service in July.
Money-On-Mobile is a mobile payments 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.
Money-On-Mobile is now offered to Indian consumers through 204,810
retail locations throughout India, an increase of 5,983 stores compared
to 198,827 stores in June. Processed transaction volume for July 2014 in
Indian rupees exceeded 1 billion INR, a 59 percent increase compared to
the volume processed six months ago for the month ending Jan. 31. At
current exchange rates, the July 2014 processed transaction volume was
approximately $17.7 million USD.
“Our continued growth in unique users combined with an expanding network
of retailers providing Money-On-Mobile services reinforces the strong
demand for mobile payments among Indian consumers,” said Shashank Joshi,
founder and managing director of Money-On-Mobile. “Month after month,
our team continues to execute our plan to make it easier for India’s
some 700 million unbanked consumers to use their cell phones to pay for
“I believe India represents the most compelling mobile money market
opportunity in the world,” said Calpian CEO Harold Montgomery. “The
opportunity in front of us is compelling considering the majority of
India’s 1.2 billion people are unbanked and there are more than 900
million mobile phone subscribers. Our continued success demonstrates
that Money-On-Mobile delivers a model for mobile payments that works,
and we remain focused on driving growth and expanding service offerings.”
About Calpian, Inc.
Calpian, Inc. (CLPI) 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 payments 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. For more information, visit www.calpian.com.
Note to Investors:
This press release contains certain forward-looking statements based on
our current expectations, forecasts and assumptions that involve risks
and uncertainties. This release does not constitute an offer to sell or
a solicitation of offers to buy any securities of any entity.
Forward-looking statements in this release are based on information
available to us as of the date hereof. Our actual results may differ
materially from those stated or implied in such forward-looking
statements, due to risks and uncertainties associated with our business,
which include the risk factors disclosed in our Form 10-K filed on March
31, 2014. Forward-looking statements include statements regarding our
expectations, beliefs, intentions or strategies regarding the future and
can be identified by forward-looking words such as "anticipate,"
"believe," "could," "estimate," "expect," "intend," "may," "should," and
"would" or similar words. We assume no obligation to update the
information included in this press release, whether as a result of new
information, future events or otherwise.
AverittPR for Calpian
Matt Averitt, 214-823-2244
Adam Holdsworth, 646-862-4607
Source: Calpian, Inc.