Wednesday, March 29, 2017 — MoneyOnMobile, Inc. (OTCQX: MOMT) announced a Bill Collection Agreement with BSES Yamuna Power Limited, to provide its 1.6 million customers the ability to pay their electricity bills through any of MoneyOnMobile's 330,000 retail outlets 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. This enables our retailers to earn commission from MoneyOnMobile on every transaction done," said Harold Montgomery, Chairman & 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 Yamuna Power Limited, we can help even more," Ranjeet Oak, President and COO of MoneyOnMobile, commented.
BSES Yamuna Power Ltd supplies electricity in Central and East Delhi, the capital of India, covering an area of approximately 200 sq km. The power distribution of the following areas are served by the BSES Yamuna Power Ltd: Paharganj, Patel Nagar, Daryaganj, Yamuna Vihar, Karawal Naga, Laxmi Nagar, G T Road, Mayur Vihar, Chandni Chowk, Krishna Nagar, Jhimil, Nand Nagri, etc. The areas under the power distribution scheme of BSES Yamuna Power Ltd has a population density of almost 4203 persons per sq km. The electricity company caters to about 16 lakh consumers. For more information about BYPL, please see http://www.bsesdelhi.com/
VP of Corporate Communications