Calpian’s Money on Mobile Service Serves over 67 Million Users
DALLAS--(BUSINESS WIRE)-- Calpian, Inc. (CLPI.OB) (OTC:CLPI) announced today that, as of August 31, 2013, the Money-on-Mobile service offered by its Indian subsidiary is now being supported by 157,860 retail locations, an increase of 6,330 stores from 151,530 stores on July 31, 2013. Additionally, Money-on-Mobile was accessed by approximately 67.5 million unique phone number customers from inception through August 31, 2013, up from the 62.6 million reported from the previous month. Processed transaction volume for August 2013, which is measured in Indian rupees, was slightly over 933 million INR, a gain of 20.8 million Rupees or about 2% from the previous month. At current exchange rates, August processed transaction volume was approximately $14.2 million, down from $15.0 million in July due to a nearly 10% decline in the value of the Indian rupee during August.
According to Calpian CEO, Harold Montgomery, Money on Mobile continues to show an increased growth rate in stores participating in the system. Whereas we had added 3,000 to 4,000 stores per month, in the last two months we have added over 8,000 and over 6,000 respectively. Month after month we are seeing further evidence of the increase in popularity of our Money-on-Mobile service.
Money-on-Mobile Managing Director Shashank Joshi said, We are very pleased to see a volume increase in August relative to July. There are three big holidays in India in August including our National Independence Day on August 15th. Despite this, we showed solid volume growth from July to August.
About Calpian, Inc.
Calpian, Inc. (CLPI) is a publicly traded company with corporate offices in Dallas, Texas, operating centers in Georgia and New York and mobile payments emerging-market operations through its subsidiary in India.
Calpians Indian subsidiary offers Money-on-Mobile, a pre-paid mobile payment solution, to 157,860 Indian retail locations. Calpians management team has over 70 years in combined experience in the payments business. Calpians 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 www.calpian.com for more information.
For Calpian, Inc.
Casey Stegman, 214-987-4121
Source: Calpian, Inc.Copyright Business Wire 2013