MoneyOnMobile Quarterly Processing Volume Increases More than 110%
DALLAS and MUMBAI, India, July 27, 2018 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQB: MOMT), one of India's largest mobile phone-based payment networks, announced a greater than 110% increase in quarterly processing volume growth from Q1-FY18 (April - June 2017) to Q1-FY 19 (April - June 2018).
"We are excited to see this yearly comparison of quarterly processing volume growth. Processing volume is the amount of money flowing through our payment network, and while it does not correlate with revenue on a 1:1 basis, it does give us a helpful measure of how well retailers are growing their business through our payment network. We look forward to providing more detail on recent growth drivers during our upcoming earnings call," says Harold Montgomery, CEO and Chairman, MoneyOnMobile.
About MoneyOnMobile, Inc.
MoneyOnMobile, Inc. is an India focused mobile payments technology and processing company offering mobile payment services. MoneyOnMobile enables Indian retailers to use mobile phones to accept payment for goods and services or transfer funds from one person 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 6, 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.
Investor and Media Relations Contact:
Greg Allbright
+1 (214) 208-0923
[email protected]
https://moneyonmobile.us/
SOURCE MoneyOnMobile, Inc.
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