Calpian announced that as of October 31, the money-on-mobile service offered by its Indian subsidiary is now being supported by over 110,000 retail locations and accessed by approximately 17.8 million unique users since April 1.
The October processed transaction volume, measured in Indian rupees, was Rs 53.65 crore, a 3.4% increase over processed volume in September. At current exchange rates, October processed transaction volume was approximately $9.8million.
“We are thrilled that the Money-on-Mobile product has achieved such widespread acceptance by customers and retailers in India. Money-on-Mobile provides a necessary service to the millions of un- and under-banked Indian consumers who use their cell phones to make payments and move money on a daily basis,” said Calpian CEO, Harold Montgomery.
