GIVING HOPE TO INDIA’S MILLIONS IN NEED OF A PAYMENT SYSTEM:
Calpian signs agreement to provide Money-on-Mobile, a mobile payment solution for approximately 278,754 retail locations in India.
“Mobile payments could improve the lives of India’s 354 million poor — most of whom have cellphones but no bank accounts, credit cards or debit cards — by lowering the cost of the domestic remittances on which so many families depend.” – Read More…
By 2017, mobile money transfers in India could total $450 billion annually, some analysts estimate. The size of the opportunity has attracted the major banks and mobile network operators but also at least a dozen new companies, including Beam Money, CanvasM, Ezetap, PayMate, Y-Cash and Zaakpay.
Calpian’s wholly owned subsidiary MoneyOnMobile (“MOM”) http://money-on-mobile.net/ is the largest mobile payment platform in India, bringing the ability to make hassle-free payments to every person on the street.
Money-on-Mobile (“MOM”) is authorized by the Reserve Bank of India (RBI) to set up a payment system that enables registered users to buy products and services from registered merchants. The MOM payment platform provides a safe, robust and reliable mobile payment service that facilitates buying of products and services; including banking and financial services, in a more easy and convenient way. One of the most rapidly growing new ventures in the segment of mobile payment applications is Money-On-Mobile. This company has been in operation less than three years, Money-On-Mobile already has attracted four times as many users as Kenya’s M-Pesa (75 million versus 18 million) and twice as many retail outlets (163,000 versus 79,000) although its transaction volume is tiny by comparison.
Calpian, Inc., through its subsidiary, Calpian Commerce, Inc., provides an integrated suite of payment processing services and related software enabling products to the U.S. merchant community. The company offers credit and debit card-based payment processing solutions primarily to small and medium-sized merchants operating in physical business environment, over the Internet, or in mobile or wireless settings via cellular-based wireless devices. Merchants buy their credit card processing services from Independent Sales Organizations (ISOs.) ISOs are sales agents authorized by contract with one or more credit card processors to sell processing and acquiring services on their behalf. The company also acts as a purchaser of revenue streams resulting from the relationships between processors and ISOs. As of September 30, 2015, it provided Money-on-Mobile, a mobile payment solution to approximately 278,754 retail locations in India. The company was formerly known as Toyzap.com, Inc. and changed its name to Calpian, Inc. in September 2010. Calpian, Inc. was incorporated in 2006 and is headquartered in Dallas, Texas.
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