DALLAS, TEXAS and MUMBAI, INDIA--(Marketwired - Sep 6, 2016) - Calpian, Inc. (OTC PINK: CLPI) is pleased to announce its name has officially been changed to MoneyOnMobile, Inc. reflecting the fact the company is now 100% focused on its India operations.
MoneyOnMobile, Inc. is an innovative global mobile payments technology and processing company, operating in India where it transforms the lives of people through its country-wide mobile payment network. These customers have historically been underserved by the traditional financial services industry. MoneyOnMobile promotes financial inclusion by providing local access to a wide array of services required by Indian consumers, making their lives better.
Indian consumers 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 over 319,292 retail locations throughout the country.
MoneyOnMobile, Inc. founder and CEO, Harold Montgomery, says, "The name change in the U.S. parent company from Calpian, Inc. to MoneyOnMobile, Inc. reflects the transformation in the company following the board's decision to sell off all the U.S. processing operations and focus 100% of our efforts on India. The next step in this transformation will be the changing of our ticker symbol."
MoneyOnMobile, Inc. (formally Calpian, Inc.) is a mobile payments technology and processing company offering services throughout India. The MoneyOnMobile service enables Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one cell phone to another using simple SMS text functionality. Read about MoneyOnMobile in The New York Times at New York Times -- MoneyOnMobile.
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.