|By Business Wire||
|August 11, 2014 11:08 AM EDT||
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 everyday expenses.”
“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.
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