MoneyOnMobile Announces 86% Growth in Domestic Remittance and MOM ATM Revenues From April to May 2017

All product categories increase

Monday, June 12, 2017 — MoneyOnMobile, Inc. (OTCQX: MOMT) today reported increases in monthly revenue across all major product categories, including an 86% increase in domestic remittance and MOM ATM revenues from April to May 2017.

“We are excited to see continued positive growth results from our products and services. The top two lines of the chart below represent significant revenue drivers of our business. We believe our domestic remittance (money transfer) business continues to grow based the recent line of credit increases, which allows us to increase our daily processing capacity, and strong demand for these services in our target market,” said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.

“We are encouraged with our significant growth in the MOM ATM product. Our retailers find significant value in our MOM ATM product as a way to differentiate their business from the competition. Having a product in their store that provides cash-out services and serves as a mobile point of sale solution in a country with limited financial infrastructure cements their relationship with MoneyOnMobile,” said Ranjeet Oak, Managing Director of MoneyOnMobile’s India subsidiary.

Percentage Change in Revenue Categories by Transaction Type since December 2016







Domestic Remittance / MOM ATM






Mobile / TV Top-Up






All Other






MoneyOnMobile generates revenue in two ways, depending on the transaction type: either a fixed fee per transaction, or a percentage discount on the amount of the transaction. The figures above are grouped based on the commission type MoneyOnMobile receives. Domestic remittance and MOM ATM generate revenues for the retailer and MoneyOnMobile based on a fixed fee for each transaction, regardless of transaction size. Mobile and TV top-up generate revenues to retailers and MoneyOnMobile based on a percentage commission of the amount of the transaction. 

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