Mobile Payments in India; Calpian's (OTCQB: CLPI) Indian Subsidiary Money-on-Mobile Grows to Serve over 57 Million Unique Users and adds Android Solution
India's mobile services market will reach Rs.1.2 trillion in 2013, up 8 percent from 2012- Gartner
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Point Roberts, WA, New York, NY - July 17, 2013 (Investorideas.com newswire) Investorideas.com staff: Investorideas.com, a research portal featuring investing ideas in leading sectors, issues a snapshot of India's mobile payment market and news from Calpian, Inc. (OTCQB: CLPI ), a company in the mobile payments emerging-market through its subsidiary in India.
According to a report from Gartner in June, "Worldwide mobile payment transaction values will reach $235.4 billion in 2013, a 44 percent increase from 2012 values of $163.1 billion, according to Gartner, Inc. The number of mobile payment users worldwide will reach 245.2 million in 2013, up from 200.8 million in 2012. From a regional perspective, Asia/Pacific's transaction value is expected to grow 38 percent in 2013 to reach $74 billion. Deployments in developed markets such as South Korea and Singapore and in developing markets such as India are expected drive healthy growth in this region."
In April Gartner reported India's mobile services market will reach Rs.1.2 trillion in 2013, up 8 percent from 2012 revenue of Rs. 1.1 trillion, according to Gartner, inc. Mobile connections will grow to 770 million in 2013, an 11 percent increase from 712 million connections in 2012.
Calpian, Inc. ( OTCQB:CLPI ), one of the first companies in the space, reported this week that as of June 30, 2013, the Money-on-Mobile service offered by its Indian subsidiary is now being supported by 143,057 retail locations, increased from 138,711 on May 31, 2013. Additionally, Money-on-Mobile was accessed by approximately 57.8 million unique phone number customers as of June 30, 2013, up from the 53 million reported from the previous month.
According to Calpian CEO, Harold Montgomery, "With the recent launch of an Android solution, Money-on-Mobile is poised to extend its growth into entirely new Indian consumer markets. We could not be more pleased with its performance."
Calpian, Inc. (CLPI) is a publicly traded company with corporate offices in Dallas, Texas, operating centers in Georgia, New York and Illinois and mobile payments emerging-market operations through its subsidiary in India.
Calpian's Indian subsidiary offers Money-on-Mobile, a pre-paid mobile payment solution, to more than 143,057 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. www.calpian.com
Money-on-Mobile was just featured in Lightreading.com - Indian Telecom Startups Set To Beat The Downturn
In other news Mobikwik, an India-based recharge and online payment service provider announced a new release of its Android application.
Gartner also noted in its report in April, "As India plays catch up with the rest of the world in terms of mobile broadband adoption, telecom operators need to think of growing the top line through innovative services. Further rural expansion of mobile services will come at a cost. In India, innovation in utility apps that help bring efficiencies in a consumer's life will bring in sustained revenue and will be relatively more difficult to replicate by new entrants. While social and video apps are doing extremely well in India, Ms. Verma said it is time to look beyond these and deliver apps that can have a sustained business model. Operators need to insert themselves into the value chain of these new apps and services. "
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