DALLAS, TX and MUMBAI, INDIA — (Marketwired) — 01/19/17 — MoneyOnMobile, Inc. (OTCQX: MOMT) announced a Distribution Agreement with BSES Rajdhani Power Limited to provide its customers the ability to pay their electricity bills through any of MoneyOnMobile–s 325,000 retailers or through MoneyOnMobile–s mobile wallet app.
“Many consumers in India pay their bills in cash. We offer them a solution so that they can make payments at a convenient retail outlet or through our mobile wallet,” said Harold Montgomery, CEO of MoneyOnMobile, Inc.
“MoneyOnMobile has helped 100s of millions of consumers across India with their financial transactions, and now through this partnership with BSES Rajdhani Power Limited, we can help even more,” Ranjeet Oak, President and COO of MoneyOnMobile, commented.
BRPL distributes power to an area spread over 750 sq. km with a customer density of ~3000 per sq km. Its over 2.2 million customers are spread in 19 districts across South and West areas including Alaknanda, Khanpur, Vasant Kunj, Saket, Nehru Place, Nizamuddin, Sarita Vihar, Hauz Khas, R K Puram, Janakpuri, Najafgargh, Nangloi, Mundka, Punjabi Bagh, Tagore Garden, Vikas Puri, Palam and Dwarka. For more information about BRPL, please see
MoneyOnMobile, Inc. is a global mobile payments technology and processing company offering mobile payment services through an Indian subsidiary. enables Indian consumers to use their mobile phones to pay for goods and services; to transfer funds from one cell phone to another; or to get access to funds in their bank account, using one of our retail-assisted touch points; simple SMS text functionality; our MoneyOnMobile Mobile Application; or our Web Portal. Our retail-assisted touch point is now offered through our over 325,000 locations throughout the country. Read about MoneyOnMobile in The New York Times at and the company–s web site at .
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.
Greg Allbright
Investor Relations
MoneyOnMobile, Inc.
214-758-8609
You must be logged in to post a comment Login