DALLAS & MUMBAI, India--(BUSINESS WIRE)--Calpian, Inc. (OTCQB: CLPI) announced that for the month ending march 31, 2015, its Mumbai-based subsidiary, Money-On-Mobile, increased transaction processing volume to Rs 1.762 billion Indian Rupees, or about $29.3 million US Dollars, an increase of 27.1% from February’s Rs 1.386 billion Indian Rupees. Money-on-Mobile has been accessed by more than 131 million cumulative unique users since its inception, an increase of 3.5 million unique users accessing the service from February. The company had 7.4 million total users in February, with 3.8 million repeat users. 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 cell phone to another using simple SMS text functionality.
Money-On-Mobile is now offered to Indian consumers through 252,815 retail locations throughout India, an increase of 5,344 stores from February’s 247,471 stores.
“Money-On-Mobile services continue to grow in volume. We introduced Domestic Remittances (person-to-person transfers) in December, 2014, and in March, we saw approximately $5.8 million in volume with over 98,000 transactions. Domestic remittances have grown over 100% per month on average since launch. This is remarkable growth is part of the increase in overall volume this month,” said Shashank Joshi, founder and managing director of Money-On-Mobile.
“The overall success of our business model is playing out across India,” commented Calpian CEO Harold Montgomery. “This month, our prepaid mobile phone time sales, known as mobile top-up, increased 22% - and the average transaction size increased form Rs58 to Rs 95 – a 67% increase.”
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.
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