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Calpian, Inc. (CLPI) Rolling Out New Services in India

Texas-based Calpian is a payment processing leader, providing a full range of payment processing services and software to physical and online merchants in the U.S. market. But there’s another side of the company. In April 2012, Calpian acquired significant ownership of India-based My Mobile Payments Limited (“MMPL”) through a newly-formed company, Digital Payments Processing Limited (“DPPL”). Working with MMPL, DPPL is the customer face of Money-on-Mobile (MOM), a stored-value mobile payments service that gives consumers the ability to use their mobile phones to pay for goods and services or transfer funds from one cell phone to another using simple SMS text functionality. Money-on-Mobile has been accessed by approximately 53 million unique telephone number customers at over 138,711 Indian retail locations.

Now, Money-On-Mobile has announced plans to introduce person to person (P2P) money transfer service in India sometime later this year. In an article by Danish Khan at Light Reading India (, MOM Managing Director Shashank M. Joshi says that the new P2P service should roll out in the next six months. He also says that the company will be introducing a new mobile service that essentially converts a smartphone into a payment device for retailers. The article points to MOM’s claim that it has the largest market share in B2C mobile payments in terms of distribution network in India, with Joshi saying the company works on a zero capex and operator agnostic model, which helps the company to achieve better efficiency.

According to a 2012 study by MasterCard Worldwide, less than 50% of India’s population has a bank account and yet mobile penetration is over 50%. It’s a market that is rapidly growing and is significantly higher than Internet penetration which MasterCard counts at 15-25%. As such, Money-on-Mobile’s pre-paid mobile payment solution provides a vital service to Indian consumers. According to the Telecom Regulatory Authority of India, there are over 900 million cell phone subscribers in India, with nearly 10 million new subscribers being added each month. In India, Money-on-Mobile has approximately 35 million unique phone number customers and over 118,000 retail partners currently offering the service.

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