DALLAS, TX and MUMBAI, INDIA -- (Marketwired) -- 04/25/16 -- 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.
In March the company's monthly processes transaction volume grew to Rs 6.233 billion Indian Rupees or $93.6 million US Dollars, an increase of 1.8% from February's Rs 6.122 billion Indian Rupees or $90.00 million U.S. Dollars. Over 7.8 million users performed a transaction in March. MoneyOnMobile expanded the number of new consumers using its service by 3.3 million in March 2016.
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 310,676 retail locations throughout the country, which is an increase of 4,253 stores from February's 306,423 stores.
Ranjeet Oak, Co-Founder and President of MoneyOnMobile, commented, "Our March 2016 processing volume grew 253% compared to March 2015 numbers showing the strength of our nation-wide footprint and the value we are bringing to our consumers and store partners."
"We are pleased with the increase in our store footprint this month and our processing volume growth. It is important to note in April there are 12 public national and state holidays during which banks are closed and processing volumes are generally lower. Therefore, we expect the April processing volumes to be affected due to this seasonality," added Harold Montgomery, Calpian's Chief Executive Officer.
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.
About Calpian
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 another using simple SMS text functionality. Read about Calpian and MoneyOnMobile in The New York Times at New York Times - Money on Mobile.
Safe Harbor Statement
This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity.
This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. 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 December 1, 2015. 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.
Investor Relations Contact:
Harold Montgomery
CEO
Calpian, Inc.
214-837-2765
hmontgomery@calpian.com
