DALLAS / ACCESSWIRE / May 8, 2014 / Calpian, Inc. (OTCQB: CLPI) announced today that for month ending April 30, 2014, the Money-On-Mobile service offered by its Indian subsidiary has been accessed by 88.6 million unique users since its inception, an increase of 2 million compared to March. Mumbai-based 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 supported by 184,418 retail locations, an increase of 3,012 stores compared to 181,406 stores in March. Processed transaction volume for April 2014 in Indian rupees was 847.4 million INR compared to 725.8 million INR for the previous month. At current exchange rates, April processed transaction volume is approximately $14.12 million USD. Per customer rupee transaction volume in April increased from approximately 185 rupees per customer to approximately 215 rupees per customer.
"Our continued growth in unique users and monthly transaction volume further reinforces the growing demand for secure, convenient mobile payment services for everyday Indians," said Shashank Joshi, founder and managing director of Money-On-Mobile. "Considering there are more than 900 million mobile phone subscribers in India, the opportunity for mobile money is significant. We’re pleased with our growth to date and remain focused on expanding our service across the country."
"We are most impressed with Money-On-Mobile’s nearly 17 percent increase in monthly transaction volume compared to March," said Calpian CEO Harold Montgomery. "It is also encouraging that the per customer transaction increased to over 200 rupees per transaction."
About Calpian, Inc.
Calpian’s wholly owned subsidiary, Calpian Commerce, provides the merchant community with an integrated suite of payment processing services and related software enabling products. Calpian Commerce offers credit and debit card processing, ACH, mobile acceptance and gateway payment solutions to merchants in the U.S. operating in a physical "bricks and mortar" business environment and/or over the Internet, and in settings requiring wired as well as wireless/portable payment solutions. Calpian Commerce delivers its products and services to merchants via three delivery chains: a direct sales force, ISOs and Agent Banks.
Since April 2012, Calpian’s Indian subsidiary, Money-On-Mobile, a pre-paid mobile payment solution, has been accessed by approximately 88 million unique telephone number customers at over 184,000 Indian retail locations.
Calpian’s management team has over 70 years in combined experience in the payments business. Calpian’s CEO, Harold Montgomery, is a recognized industry leader who has provided expert testimony to the U.S. Congress and Federal Reserve Bank on payments-related issues and regularly appears in numerous industry publications, such as Transaction World Magazine. Please visit our website at www.calpian.com for more information.
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
VP, Investor Relations
SOURCE: Calpian, Inc