MoneyOnMobile Announces Record Monthly Revenue in September
DALLAS and MUMBAI, INDIA, Oct. 16, 2017 /PRNewswire/ — MoneyOnMobile, Inc. (OTCQB: MOMT) today reported September financial results, including the following highlights:
- September 2017 net revenue was the highest on record,
- September 2017 net revenue was up 10% over August 2017
- Total monthly net revenue has grown by 161% since January
“We are excited to see that the MOM ATM and domestic remittance products, which were rolled out in the last two years, are now two of our main revenue leaders and driving sustained growth for our company. This speaks well to our team’s ability to identify, implement and execute on innovative growth ideas for our underserved market,” said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.
“We believe our retailers find significant value in our MOM ATM product, as a way to differentiate their value offerings to their customers. Having a product like MOM ATM in their store; not only provides cash-out services but, also serves as a mobile point of sale solution,” said Ranjeet Oak, Jt. Managing Director, MoneyOnMobile.
Total Monthly Revenue since April 2017 – (Chart A)
Monthly Revenue (₹)
Monthly Revenue ($)
Change over Previous Month
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is a global mobile payments technology and processing company offering mobile payment services through its Indian subsidiary. MoneyOnMobile enables Indian consumers to use mobile phones to pay for goods and services or transfer funds from one cell phone to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 335,000 retail locations throughout India.
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