- NORTH AMERICA EDITIONAustraliaNorth AmericaWorld
Investing News NetworkYour trusted source for investing success
Silver47 Exploration
Purpose Bitcoin ETF
Black Swan Graphene
Jindalee Lithium
- Lithium Outlook
- Oil and Gas Outlook
- Gold Outlook Report
- Uranium Outlook
- Rare Earths Outlook
- All Outlook Reports
- Top Generative AI Stocks
- Top EV Stocks
- Biggest AI Companies
- Biggest Blockchain Stocks
- Biggest Cryptocurrency-mining Stocks
- Biggest Cybersecurity Companies
- Biggest Robotics Companies
- Biggest Social Media Companies
- Biggest Technology ETFs
- Artificial Intellgience ETFs
- Robotics ETFs
- Canadian Cryptocurrency ETFs
- Artificial Intelligence Outlook
- EV Outlook
- Cleantech Outlook
- Crypto Outlook
- Tech Outlook
- All Market Outlook Reports
- Cannabis Weekly Round-Up
- Top Alzheimer's Treatment Stocks
- Top Biotech Stocks
- Top Plant-based Food Stocks
- Biggest Cannabis Stocks
- Biggest Pharma Stocks
- Longevity Stocks to Watch
- Psychedelics Stocks to Watch
- Top Cobalt Stocks
- Small Biotech ETFs to Watch
- Top Life Science ETFs
- Biggest Pharmaceutical ETFs
- Life Science Outlook
- Biotech Outlook
- Cannabis Outlook
- Pharma Outlook
- Psychedelics Outlook
- All Market Outlook Reports
Calpian's Subsidiary MoneyOnMobile Operates Through India's Mobile Payment Network
Calpian, Inc. (OTC PINK:CLPI), a global mobile payments technology and processing company, has reported that its Mumbai-based subsidiary, MoneyOnMobile, has recently launched accident insurance.
Calpian, Inc. (OTC PINK:CLPI), a global mobile payments technology and processing company, has reported that its Mumbai-based subsidiary, MoneyOnMobile, has recently launched accident insurance.
According to the press release:
Many of our customers are migrant manual laborers, whose families back home are highly dependent on their regular remittances. If they get injured on the job, they do not get paid and their family suffers. Now, every domestic remittance customer of MoneyOnMobile receives free 30-day accident insurance coverage providing them with basic financial security in times of trouble.
In February the company’s annualized processes transaction volume run rate passed $1 billion. Its monthly volume grew to Rs 6.122 billion Indian Rupees or $90.0 million US Dollars, an increase of 4.4% from January’s Rs 5.863 billion Indian Rupees or $86.00 million U.S. Dollars. MoneyOnMobile expanded the number of new consumer’s using its service by 3.3 million in February 2016.
MoneyOnMobile is a mobile payments service provider that allows Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one person to another using simple SMS text functionality. The service is now offered to Indian consumers through 306,423 retail locations throughout the country, which is an increase of 8,220 stores from January’s 298,203 stores.
Harold Montgomery, Calpian Chief Executive Officer, commented: “We are very pleased with the financial inclusion services we have provided to so many people in a country with 100s millions of underserved consumers. The addition of our accident insurance benefit strengthens the value we bring to our consumers.”
Latest News
Investing News Network websites or approved third-party tools use cookies. Please refer to the cookie policy for collected data, privacy and GDPR compliance. By continuing to browse the site, you agree to our use of cookies.