Business
MOM ATM Boosts MoneyOnMobile's Revenue by 172% from Enabled Retailers
MOM ATM Boosts MoneyOnMobile's Revenue by 172% from Enabled Retailers.
About this update from Moneyonmobile, Inc
[{"type":"text","content":"\n\n\n\nMOM ATM Boosts MoneyOnMobile's Revenue by 172% from Enabled Retailers\n\n/* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n\n\n\n\n\n\nMOM ATM Boosts MoneyOnMobile's Revenue by 172% from Enabled Retailers\nRevenue growth after first month of using MOM ATM a result of cash-out and retailer card-swipe transactions plus additional foot traffic when compared to the month prior to getting the MOM ATM\nPR Newswire\nDALLAS and MUMBAI, India, Sept. 13th, 2017\n\n\n\nDALLAS and MUMBAI, India, Sept. 13th, 2017 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQX: MOMT) announced today the results of an internal eight-month review which examined the revenue impact of MOM ATMs for MoneyOnMobile. The findings revealed revenue from enabled retailers grew by an average of 172% when comparing the month prior to taking on a MOM ATM in their stores to the first month after.\n\n\n \n \n\n \n\"Every time one of our retailers conducts a MoneyOnMobile transaction, our retailer earns a fee and so does MoneyOnMobile. So, we are excited that our MOM ATM product has driven an increase in revenues at the 2,000+ locations where we have installed them. This review demonstrates that our existing agent network of retail stores can increase sales for themselves and for MoneyOnMobile by installing one of these handheld devices. This new service  is also  increasing the productivity of stores we already have in the network. Showing that we can grow our overall revenue without adding any new stores is an exciting development and part of our overall growth strategy. We now have three ways to grow – increasing the number of stores, increasing the productivity of each location, and increasing the frequency with which consumers use our services,\" said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.\n\nMoneyOnMobile launched its wireless ATM product in December 2016 to facilitate cash withdrawals through its pan-India retail network. In a country of more than 1 billion people, where nearly 90% of consumer transactions are conducted in cash.\n\n\"We believe that MOM ATMs are filling a huge void, e...