MoneyOnMobile and Maharashtra State Road Transport Corporation (MSRTC) announce partnership to offer bus tickets

DALLAS and MUMBAI, India, March 5, 2018 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQB: MOMT) announced a partnership with Maharashtra State Road Transport Corporation (MSRTC), which was founded by the Government of Maharashtra in 1960. This partnership will enable MoneyOnMobile's participating retailers to now book bus tickets to the approximately 7 million passengers that ride the MSRTC buses per day, along approximately 17,000 routes.

"With this tie-up, our customers can book their MSRTC tickets at any of MoneyOnMobile's participating retail outlets. This allows our customers to travel to and from Maharashtra and neighbouring states at their convenience. MSRTC is a safe and dependable service," commented Suhas Jadhav, Deputy GM of MSRTC.

"We are excited to offer this service to our retailers. When we grow our product portfolio of available services, it expands the opportunity for our enabled retailers to serve more customers, and grow the spend-per-customer in their store," says Harold Montgomery, Chairman and CEO of MoneyOnMobile Inc.

"Our retailers from the Western part of India, primarily Maharashtra and Gujarat, see growing demand for bus tickets for inter and intra-state travel; we are happy to be able to provide the MSRTC bus ticket booking service. The ticketing capabilities for the MSRTC buses, which predominantly travel from Maharashtra and to neighbouring states of Goa, Telangana, Andhra Pradesh, Gujarat, Karnataka and Madhya Pradesh, will add to the bouquet of services being offered by our Retailers to their end consumers," commented Ranjeet Oak, Joint Managing Director, MoneyOnMobile, India.

About MSRTC:

The Maharashtra State Road Transport Corporation abbreviated as (MSRTC, or simply ST), is the state run bus service of Maharashtra, India with 16,500 buses which ferry 7 million passengers daily. It serves routes to towns and cities within Maharashtra and adjoining states. Apart from locations within the state of Maharashtra, the MSRTC service also covers destinations in neighbouring states. It also offers a facility for online booking of tickets for all Buses.

About MoneyOnMobile

MoneyOnMobile, Inc. is an India focused 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 350,000 retail locations throughout India.

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on July 6th, 2017. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Media Contact (India):
Navaz Damania
Vice President - Corporate Communications
[email protected]
+91-9167122661

Media Contact (Global):
Greg Allbright
Head of Global Communications
[email protected]
+1 (214) 208-0923

Investor Relations (U.S.)
Integra Consulting Group, LLC
Jeremy G. Roe, Founder, Managing Partner
+1 (925) 262-8305
[email protected]

Web site: www.MoneyOnMobile.in
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SOURCE MoneyOnMobile, Inc.

Related Links

http://www.moneyonmobile.in