Calpian, Inc. (CLPI) Money-on-Mobile Subsidiary Reports Cont
Calpian, Inc. (CLPI) Money-on-Mobile Subsidiary Reports Continued Gains in Retail Merchants and New Customers
Today, Calpian announced today that, as of the end of October, the Money-on-Mobile service offered by its Indian subsidiary is now being supported by 167,145 retail locations, an increase of 4,069 stores from 163,076 stores just one month earlier. Also notable, Money-on-Mobile was accessed by more than 75 million unique phone number customers from inception through October 31, 2013. The monthly unique user count increased by 3.6 million between September 30 and October 31 of this year.
Processed transaction volume for last month, which is measured in Indian rupees, was slightly over 824.5 million INR. At current exchange rates, October processed transaction volume was approximately $13.5 million, slightly down from $14 million in September partly due to currency fluctuations and extensive holidays during the month, including Diwali, India’s annual equivalent of the Christmas holiday season.
According to Calpian CEO, Harold Montgomery, “Money-on-Mobile showed a strong gain in revenue per user, which suggests that our core user base is conducting larger transactions such as utility payments. Monthly average revenue per user increased from Rs 110 in September to Rs 157 in October, a gain of 42.5%.”
Money-on-Mobile CEO Shashank Joshi stated, “October is festival time in India and the seasonality is reflected in our processed volume. There were only 17 business days in October, compared to 21 in September. However, we are encouraged that our users increased the frequency of their transactions from 1.48 transactions per user per month in September to 2.02 transactions per user per month in October, an increase of 37%.”
For more information, visit www.calpian.com
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