DALLAS & MUMBAI--(BUSINESS WIRE)--Calpian, Inc. (OTCQB: CLPI) announced that for the month ending January 31, 2015, its Mumbai-based subsidiary Money-On-Mobile has been accessed by 123,990,278 million cumulative unique users since its inception with a total of 8,735,533 million unique users accessing the service in January. 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 241,920 retail locations throughout India, an increase of 5,649 stores compared to 236,271 stores in December. Repeat users of the service in January equaled 5,959,026, which is a 34 percent increase from the month prior. Processed transaction volume for January in Indian rupees equaled 1,283,994,347 INR, a 5 percent increase over the prior month and a 90 percent increase compared to the single month volume processed a year ago for the month ending January 31. January’s processed transaction volume was approximately $20.7 million USD at the exchange rate on January 31.
“The demand for mobile money in India continues to grow because the majority of our country’s 1.2 billion people do not have access to, or even desire, traditional banking services,” said Shashank Joshi, founder and managing director of Money-On-Mobile. “Mobile money is an increasingly important service for Indian consumers who want to simplify the way they pay for everyday expenses such as utility, mobile phone and cable television bills. Our January expansion marked a solid start to 2015 and we remain focused on expanding our customer base, retail distribution and services.”
“I’m pleased with Money-On-Mobile’s strong performance in terms of new subscribers, expanding retail distribution and monthly processed transaction volume,” said Calpian CEO Harold Montgomery. "The global market for mobile payments is rapidly expanding with India being the most compelling market of all. Our continued success demonstrates that Money-On-Mobile offers a model for mobile payments that works, and we remain focused on driving growth and expanding our service offerings.”
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.
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 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.