DALLAS / ACCESSWIRE / June 11, 2014 / Calpian, Inc. (OTCQB: CLPI) announced today that for month ending May 31, 2014, the Money-On-Mobile service offered by its Indian subsidiary has been accessed by 91.2 million unique users since its inception, an increase of 2.6 million users since April. 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 now offered through 193,379 retail locations throughout India, an increase of 8,961 stores compared to 184,418 stores in April. Processed transaction volume for May 2014 in Indian rupees was 938 million INR compared to 847.4 million INR the previous month. At current exchange rates, the May 2014 processed transaction volume is approximately $15.8 million USD.
"More Indians are turning to Money-On-Mobile each month to simplify the way they pay for everyday expenses such as utility, mobile phone and cable television bills," said Shashank Joshi, founder and managing director of Money-On-Mobile. "With over 900 million mobile phone subscribers and 700 million unbanked citizens across the country, the demand for mobile money in India continues to grow. We’re pleased with our continued growth and remain focused on expanding our retail distribution and service offerings."
"Money-On-Mobile is India’s leading mobile payments service provider and I am pleased with our continued month-over-month performance," said Calpian CEO Harold Montgomery. "Since the beginning of this year alone, we have added 11 million new users and over 19,000 new retail distribution partners which we believe highlight the growing demand for mobile money in India."
About Calpian, Inc.
Calpian, Inc. (CLPI) is a global processing and mobile payments technology company offering traditional domestic transaction services through Calpian Commerce and mobile payment services through Indian subsidiary Money-On-Mobile. Calpian’s wholly-owned subsidiary Calpian Commerce provides the U.S. merchant community with an integrated suite of payment processing services and related software products. 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. 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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SOURCE: Calpian, Inc.