wordpress blog stats
Connect with us

Hi, what are you looking for?

Money On Mobile Claims To Have 57.8M Users As Of June 2013; Financials


Money-On-Mobile, a mobile money service from the Calpian backed mobile payment service provider My Mobile Payments Ltd (MMPL), claims to have clocked 57.8 million unique users as of June 30, 2013, up from 53 million users reported last month.

Calpian claims that the service is now being supported by 1.43 lakh locations (143,057 locations), up from 1.38 lakh locations (138,711 locations) in May 2013.

Money On Mobile Users

The company however has not disclosed the processed transaction volume for the month. The service had last reported a processed transaction volume of more than Rs 88.7 crore as of May 2013, up from Rs 85.1 crore in April 2013, Rs 81 crore in March 2013 and Rs 66.1 crore in February 2013.

MMPL Financials: In March 2012, Calpian had indirectly invested in MMPL, by investing in DPPL (Digital Payments Processing Limited), which in turn had entered into a service agreement with MMPL.

As per a SEC filing filed by Calpian in May 2013, the combined revenue of DPPL and MMPL was at $37.9 million for the quarter ending March 31, 2013. It posted a net loss of $858,245 for the quarter. Calpian hasn’t provided any revenue breakup of these two entities.

Advertisement. Scroll to continue reading.

Calpian Investment: Calpian has invested around $5.5 million into DPPL as of March 31, 2013 and currently owns 45% stake in the company. It has also issued 2.4 million shares of its stock valued at $3.6 million, and recognized a cumulative $1.2 million equity investment loss for a net carrying value of 56% stake in DPPL. The difference in stake is due to advances made by the company which has not yet been certified by DPPL.

Remember that Calpian has committed a total $9.7 million investment and 6.1 million shares (6,123,077 shares) in common stock to DPPL. It had structured its investment in DPPL as an initial and second funding totaling $2.5 million, followed by quarterly tranches of approximately $1.2 million each over the next six quarters, resulting in a cash infusion of $9.7 million.

Money On Mobile competes with Airtel Money, Vodafone’s M-Pesa, Atom Technologies, Beam Money, Paymate, Zipcash, Happay and FINO’s Alpha Payment Services among others.

Updates: Added Table


Money-On-Mobile: 53M Users, Rs 887.3M Processed Transactions As Of May 2013
Money on Mobile Clocks 32.5M Users In 2012; Transaction Margins
The Structuring Of Money On Mobile’s $29.6M Funding From Calpian

Advertisement. Scroll to continue reading.

You May Also Like


The Payments Council of India (PCI), an industry body for digital payment operators in the country, is in the final stages of submitting its...

MediaNama is the premier source of information and analysis on Technology Policy in India. More about MediaNama, and contact information, here.

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ

Subscribe to our daily newsletter
Your email address:*
Please enter all required fields Click to hide
Correct invalid entries Click to hide

© 2008-2021 Mixed Bag Media Pvt. Ltd. Developed By PixelVJ