Calpian, a company with mobile payments emerging-market operations through its subsidiary in India, today issued an update on its Money-on-Mobile pre-paid mobile payment solution offered in retail locations throughout India.
Calpian said that as of May 31, 2013, the Money-on-Mobile service has increased to availability in 138,711 retail locations, as compared to availability in 134,200 retail locations as of April 30, 2013.
The company reports that Money-on-Mobile was accessed by approximately 53 million unique phone number customers as of May 31, up from the 49 million reported from the prior month.
Processed transaction volume for May 2013, measured in Indian rupees, was slightly more than 887.3 million INR – representing an approximate 36 million increase as compared to April 2013 processed volume. At current exchange rates, May processed transaction volume was approximately $15.6 million.
“It has now been slightly over a year since our initial investment in Money-on-Mobile and the company has outperformed our expectations,” Calpian CEO Harold Montgomery stated in the press release. “Money-on-Mobile’s consistent growth each month indicates to us that the service has considerable room to grow in what is one of the largest consumer markets in the world.”
For more information, visit www.calpian.com
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