Business
Calpian's MoneyOnMobile Increases Store Count by 2,637 Stores
Calpian's MoneyOnMobile Increases Store Count by 2,637 Stores.
About this update from Moneyonmobile, Inc
[{"type":"text","content":"\n \n \n Calpian's MoneyOnMobile Increases Store Count by 2,637 Stores\n \n \nCalpian's MoneyOnMobile Increases Store Count by 2,637 Stores\n \n DALLAS, TX and MUMBAI, INDIA--(Marketwired - Jul 20, 2016) -   Calpian, Inc. (OTC PINK: CLPI), an innovative global mobile payments technology and processing company, announces its Mumbai-based subsidiary, MoneyOnMobile, continues to transform the lives of people in India through its country-wide mobile payment network. These customers have historically been underserved by the traditional financial services industry. MoneyOnMobile promotes financial inclusion by providing local access to a wide array of services required by Indian consumers, making their lives better.\n In June 2016, the Company's monthly processed transaction volume was Rs 4.55 billion Indian Rupees or $67.6 million US Dollars with over 6.4 million users performing a transaction. Our July 2015-June 2016 processing volume was up 208% over the trailing twelve months ending June 2015.  MoneyOnMobile expanded the number of new consumers using its service by 2.6 million during the month. \n MoneyOnMobile 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 319,292 retail locations throughout the country, which is an increase of 2,637 stores from May 2016.\n MoneyOnMobile recognizes revenue for transactions as services are performed and when the digital currency is transferred from a consumer's wallet. Revenue varies depending on the type of transaction. Total processed volume includes consumer wallet inbound load amounts and outbound 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.\n About Calpian\n Calpian, Inc. is a global mobile payments technology and processing company offering mobile payment services through Indian subsidiary MoneyOnMobile. MoneyOnMobile 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 anothe...