Calpian's MoneyOnMobile Increases Monthly Processed Transaction Volume by 21%
DALLAS, TX and MUMBAI, INDIA -- (Marketwired) -- 01/13/16 -- 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 December 2015 to Rs 5.270 billion Indian Rupees or $79.9 million US Dollars, an increase of 21.1% from November's Rs 4.352 billion Indian Rupees or $65.9 million US Dollars. MoneyOnMobile has been accessed by more than 162.6 million cumulative unique users since its inception, which is an increase of 3.5 million unique users accessing the service in November 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 291,163 retail locations throughout the country, which is an increase of 5,209 stores from November's 286,134 stores.
"2015 was a great year for us with our annual processing volume increase over 200% relative to 2014." remarked Shashank Joshi, Founder and Managing Director of MoneyOnMobile.
Harold Montgomery, Calpian Chief Executive Officer, commented: "MoneyOnMobile services help fill a strong consumer need in India as reflected in our 2015 growth numbers. We continue to expand the number of services offered through our network, and the reach of our stores to help expand our addressable market."
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. 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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This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. 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 December 1, 2015. 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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Source: Calpian, Inc.