WirelessDevNet.com Press Release
Calpians Money on Mobile Service Serves Over 84 Million Users
Calpian, Inc. announced today that for month end February 28, 2014 the Money-on-Mobile service offered by its Indian subsidiary has been accessed by 84.3 million unique users since its inception, an increase of 2.1 million from January. Money on Mobile is supported by 179,292 retail locations, an increase of 2,786 stores from 176,506 stores in January. Processed transaction volume for February 2014 in Indian rupees was 682.3 million INR compared to 674.3 for the previous month. At current exchange rates, January processed transaction volume is approximately $11 million US. Per customer rupee transaction volume increased from approximately 170 rupees per transaction to approximately 185 rupees. “We are most impressed with February’s daily transaction average volume increase of 12% from January.” says Calpian Inc. CEO Harold Montgomery. Money on Mobile CEO Shashank Joshi stated that “Given that February was a short month with four Sundays and two banking holidays, we are very pleased with the results.”
About Calpian, Inc.
Calpian’s wholly owned subsidiary, Calpian Commerce, provides the merchant community with an integrated suite of payment processing services and related software enabling products. Calpian Commerce offers credit and debit card processing, ACH, mobile acceptance and gateway payment solutions to merchants in the U.S. operating in a physical “bricks and mortar” business environment and/or over the Internet, and in settings requiring wired as well as wireless/portable payment solutions. Calpian Commerce delivers its products and services to merchants via three delivery chains: a direct sales force, ISOs and Agent Banks.
Since April 2012, Calpian’s Indian subsidiary, Money-on-Mobile, a pre-paid mobile payment solution, has been accessed by approximately 84million unique telephone number customers at over 179,000 Indian retail locations.
Calpian’s management team has over 70 years in combined experience in the payments business. Calpian’s CEO, Harold Montgomery, is a recognized industry leader who has provided expert testimony to the U.S. Congress and Federal Reserve Bank on payments-related issues and regularly appears in numerous industry publications, such as Transaction World Magazine. Please visit our website at http://www.calpian.com/ for more information.