Thursday, September 21, 2017 — MoneyOnMobile, Inc. (OTCQX: MOMT) today reported August financial results, including the following highlights:
- August 2017 revenue up 30% over July 2017
- Total monthly revenue has grown by 291% since February
- MOM ATM and domestic remittance revenue lines have grown 44% over the last 90 days
"We are excited to see continued positive growth from MoneyOnMobile products and services, as we connect cash-based consumers to the digital world. We believe our domestic remittance (money transfer) business continues to grow based on the efforts of our sales and marketing teams' solid performance, as well as from strong demand for these services in our target market," said Harold Montgomery, Chairman and CEO of MoneyOnMobile, Inc.
"The positive growth seen over the months indicates the increasing demand of our products such as Domestic Money Transfer and MOM ATM in the market today. Our retailers find a significant value in the products we offer and MOM ATM acts as the differentiator. Our retailers are able to offer cash-out and also accept payments in areas where there is less financial infrastructure," said Ranjeet Oak, Jt. Managing Director of MoneyOnMobile