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MoneyOnMobile Announces Another Month of Revenue Growth
DALLAS and MUMBAI, India, Sept. 21, 2017 /PRNewswire/ -- MoneyOnMobile, Inc. (OTCQX: MOMT) today reported August financial results, including the following highlights:
- August 2017 revenue up 30% over July 2017
- Total monthly revenue has grown by 291% since February
- MOM ATM and domestic remittance revenue lines have grown 44% over the last 90 days
"We are excited to see continued positive growth from MoneyOnMobile products and services, as we connect cash-based consumers to the digital world. We believe our domestic remittance (money transfer) business continues to grow based on the efforts of our sales and marketing teams solid performance, as well as from strong demand for these services in our target market," said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.
"The positive growth seen over the months indicates the increasing demand of our products such as Domestic Money Transfer and MOM ATM in the market today. Our retailers find a significant value in the products we offer and MOM ATM acts as the differentiator. Our retailers are able to offer cash-out and also accept payments in areas where there is less financial infrastructure," said Ranjeet Oak, Jt. Managing Director of MoneyOnMobile
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Total Monthly Revenue since February 2017 - (Chart A)
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(Chart A)
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February
2017
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March
2017
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April
2017
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May
2017
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June
2017
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July
2017
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August
2017
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Monthly Revenue (?)
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? 15.9M
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? 18.6M
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? 19.7M
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? 28.1M
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? 29.4M
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? 33.7M
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? 44.1M
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Monthly Revenue ($)
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$235K
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$275K
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$306K
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$414K
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$433K
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$523K
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$685K
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Change over Previous Month
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17%
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6%
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43%
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5%
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20%
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30%
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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.
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 August 19, 2016. 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
Web site: www.MoneyOnMobile.in
Twitter: https://twitter.com/MoneyOnMobile
Facebook: https://www.facebook.com/MoneyOnMobile
LinkedIn: https://www.linkedin.com/company/moneyonmobile
YouTube: https://www.youtube.com/channel/UCxqO4N1z9acnQmEysjqfBaQ
View original content with multimedia:http://www.prnewswire.com/news-releases/moneyonmobile-announces-another-month-of-revenue-growth-300523329.html
SOURCE MoneyOnMobile
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