Calpian’s Money-On-Mobile Increases Monthly Processed Transaction Volume by 25%

DALLAS, TX and MUMBAI, INDIA / ACCESSWIRE / October 14, 2015 / Calpian, Inc. (PINKSHEETS: CLPI), an innovative global mobile payments technology and processing company, announces its Mumbai-based subsidiary, Money-On-Mobile, increased monthly processed transaction volume in September 2015 to Rs 3.998 billion Indian Rupees or $60.9 million US Dollars, an increase of 24.6% from August’s Rs 3.209 billion Indian Rupees or $48.4 million US Dollars. Money-On-Mobile has been accessed by more than 152.1 million cumulative unique users since its inception, which is an increase of 3.5 million unique users accessing the service in September 2015.

Money-On-Mobile 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 278,754 retail locations throughout the country, which is an increase of 3,190 stores from August’s 275,564 stores.

“The breadth of services and number of store locations are driving our rapid growth numbers in September. In the coming months, we have a couple of new exciting services lined up so stay tuned,” said Shashank Joshi, Founder and Managing Director of Money-On-Mobile.

Harold Montgomery, Calpian Chief Executive Officer, commented: “The team continues to execute well which has resulted in our continuing month-on-month increases in processed volume.”

Money-On-Mobile recognizes revenue for transactions at varying rates depending on the type of transaction when the funds leave the consumer wallet. Total processed volume includes consumer wallet load amounts and 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 Money-On-Mobile and domestic transaction services through Calpian Commerce. Money-On-Mobile 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. Calpian Commerce provides the U.S. merchant community with an integrated suite of payment processing services and related software products. Read about Calpian and Money-On-Mobile in The New York Times at New York Times – Money on Mobile.

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SOURCE: Calpian, Inc.

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