DALLAS, TX and MUMBAI, INDIA / ACCESSWIRE / September 15, 2015 / Calpian, Inc. (
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.
About Calpian
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 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 August 11, 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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SOURCE: Calpian, Inc.