MoneyOnMobile Deploys Over 10,000 MOM ATM Units in India

MoneyOnMobile, Inc., one of India’s largest mobile phone-based payment networks, announced the number of MOM ATM units deployed in India has crossed the 10,000 unit mark.

“We are pleased with the progress of our MOM ATM deployments. Crossing the 10,000 unit mark demonstrates, we believe, strong demand for this product by our retailers. We are well on our way to reaching our goal of 30,000 MOM ATM units deployed by the end of 2019. This is the first step in the cycle of deployment activation and revenues. There are three ways to increase revenues, increasing the number of units deployed to our retailers, expanding the number of retailers transacting with the unit on a daily basis, and growing the number of transactions each retailer performs in a day. The number of units deployed is a positive first step in a cadence of events that will impact success. We look forward to providing more detail on our MOM ATM product during our upcoming earnings call,” says Harold Montgomery, CEO and Chairman, MoneyOnMobile.