Calpian Inc. this past week announced that for the month ending Nov. 30, its Mumbai-based subsidiary Money-On-Mobile had been accessed by more than 116 million cumulative unique users since its inception with a total of 8,625,252 unique users accessing the service in November, according to a press release. Money-On-Mobile is a mobile payments service provider that enables Indian consumers to use their mobile phones to pay for goods and services, or transfer funds from one cell phone to another using SMS text functionality.

Money-On-Mobile is now offered to Indian consumers through 230,374 retail locations throughout India, an increase of 5,305 stores compared to 225,069 stores in October. Processed transaction volume for November 2014 in Indian rupees exceeded 1.2 billion INR, an 83-percent increase compared to the single month volume processed a year ago for the month ending Nov. 30. At current exchange rates, the November 2014 processed transaction volume was approximately US$19,063,535.

"The demand for mobile money services continues to expand across India which is helping drive our continued growth in terms of unique users and retail distribution partners," said Shashank Joshi, founder and managing director of Money-On-Mobile. "The Indian government is committed to finding more ways to facilitate financial inclusion for some 700 million unbanked citizens across the country and we are pleased that Money-On-Mobile is playing a role in that process. As the country’s leading mobile payments provider, we remain focused on expanding our footprint and range of services across the country."