DALLAS and MUMBAI, India, Aug. 6, 2018 /PRNewswire/ -- MoneyOnMobile, Inc. MOMT, one of India's largest mobile phone-based payment networks, announced the number of MOM ATM units deployed in India has crossed the 10,000 unit mark.

"We are pleased with the progress of our MOM ATM deployments. Crossing the 10,000 unit mark demonstrates, we believe, strong demand for this product by our retailers. We are well on our way to reaching our goal of 30,000 MOM ATM units deployed by the end of 2019. This is the first step in the cycle of deployment activation and revenues. There are three ways to increase revenues, increasing the number of units deployed to our retailers, expanding the number of retailers transacting with the unit on a daily basis, and growing the number of transactions each retailer performs in a day. The number of units deployed is a positive first step in a cadence of events that will impact success. We look forward to providing more detail on our MOM ATM product during our upcoming earnings call," says Harold Montgomery, CEO and Chairman, MoneyOnMobile.

About MoneyOnMobile, Inc.

MoneyOnMobile, Inc. is an India focused mobile payments technology and processing company offering mobile payment services. MoneyOnMobile enables Indian retailers to use mobile phones to accept payment for goods and services or transfer funds from one person to another. It can be used as simple SMS text functionality or through the MoneyOnMobile application or internet site. MoneyOnMobile has more than 350,000 retail locations throughout India.

Safe Harbor Statement

This release does not constitute an offer to sell or a solicitation of offers to buy any securities of any entity. This release contains certain forward-looking statements based on our current expectations, forecasts and assumptions that involve risks and uncertainties. Forward-looking statements in this release are based on information available to us as of the date hereof. Our actual results may differ materially from those stated or implied in such forward-looking statements, due to risks and uncertainties associated with our business, which include the risk factors disclosed in our Form 10-K filed on July 6, 2017. Forward-looking statements include statements regarding our expectations, beliefs, intentions or strategies regarding the future and can be identified by forward-looking words such as "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "should," and "would" or similar words. We assume no obligation to update the information included in this press release, whether as a result of new information, future events or otherwise.

Investor and Media Relations Contact:
Greg Allbright
+1 (214) 208-0923
gallbright@moneyonmobile.us
https://moneyonmobile.us/

Integra Consulting Group, LLC - Investor Relations:
Jeremy G. Roe, Founder, Managing Partner
+1 (925) 262-8305
jeremy@integracg.net

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SOURCE MoneyOnMobile, Inc.