Money on Mobile’s News for 184K Indian Retailers

India Feature
What's Next In Payments®
4:46 PM EDT June 10th, 2014

My Mobile Payments Limited (MMPL), which operates the m-money service Money On Mobile, acquired a significant stake in the Mumbai-based OSS India for an undisclosed amount. The funds will be used to bring financial support to OSS India to relaunch the service.

OSS India currently operates the cash card service Done Card specializes in leisure and travel ticketing segment with services such as rail, air and bus ticketing, hotel booking, money transfer service and mobile and direct-to-home (DTH) recharge.

OSS India claims to be the first company to have implemented the Indian Railway Catering and Tourism Corporation (IRCTC) ticketing model and Done Card accounted for around 330k transactions on IRCTC for the period January 2011 to July 2012. (IRCTC stopped providing monthly transactional data later).

Overall, Money on Mobile is currently supported in 184k retailers and has 88.6M unique phone number customers as of April 2014.

“What’s Hot” is aggregated content. PYMNTS.com claims no responsibility for the accuracy of the content published by the original source.

Comments
Also by This Author
What's Hot
News
Square Launches Register App Platform
News
Etsy Debuts mPOS Solution
Merchant Innovation
Ron Johnson’s New Company To Focus On Shopper Decisions
B2B Payments
WEX and Sinclair Oil Strike Long Term Contract
View All Articles ››
You May Also Like
International
International Chamber of Commerce Agrees on SCF Terms
International
Putin Puts Visa/MC Deadline On Ice
International
China’s Tencent Bets Big On Mobile
B2B Payments
Ecuador Central Bank Launches Mobile B2B With No Banks Nor Telco Partners
View All Articles ››