Money On Mobile

MoneyOnMobile
Website http://www.moneyonmobile.in/

MoneyOnMobile (MOM) is a mobile money service founded by Shashank Joshi[1] in 2010, based in Mumbai, India.[2] Joshi also serves as the company's President.[3] The service is owned by My Mobile Payments Ltd.[4] As of 2013 the service had 75 million users and 163,000 retailers.[1] At that time, it had received $4.1 million from venture capitalist firm Calpian.[4] In 2015, the service had 121 million users and 306,000 retail outlets that accepted MOM as a form of payment.[5] The MOM service acts as a mobile wallet, that allows users to carry their debit and credit card accounts on their mobile devices and pay with them via their phones.[6] You can also use a pre-paid MOM cards on the device as well. In 2015, the service added a money order application to its platform.[7]

References

  1. 1 2 "Mobile Payments Gain Traction Among India's Poor". The New York Times. 5 December 2013.
  2. ↑ "'PayPal of India' could change way of life for 1.3 billion people".
  3. ↑ "Igniting Mobile Money In India - PYMNTS.com". 9 April 2015.
  4. 1 2 SN, Vikas (5 February 2013). "Money on Mobile Clocks 32.5M Users In 2012; Transaction Margins".
  5. ↑ KJ, Shashidhar (21 March 2016). "Money On Mobile report: Transaction volumes grew to $90 million in Feb 2016".
  6. ↑ "My Mobile Payments Limited: Private Company Information - Businessweek".
  7. ↑ "Mobile payment service firm MoneyOnMobile launches Money Order service - Franchise India".
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