Calpian, Inc. is a global mobile payments technology and processing company offering mobile payment services through Money-On-Mobile (MoM). MoM is India’s largest cell phone payments network. MoM allows consumers to pay bills and send money to other consumers throughout India using only their cell phone (smart- or feature-phone) through MoM’s proprietary system. The Company addresses this greenfield opportunity in a country of 1.2 billion people, at least 50% of whom are unbanked and have no access to the convenience of electronic payments common in the West. MoM is growing rapidly with over 176 million cumulative unique users and 313,541 retail distribution points throughout India. MoM is poised to be the winner in the world’s largest mobile payments opportunity. MoM has been called “the Paypal of India” but is more correctly dubbed the M-PESA (a successful mobile-money system in Kenya) of India.

CLPI’s mobile payment service, MoM, is the established leader in India, which is the world’s largest mobile payments opportunity. This gives the Company a strong barrier to entry, as competitors do not have the experience or trust of customers like MOM. This gives MOM the ability to offer higher-revenue and higher-margin transactions to its customers, such as money transfers, which have shown significant increases in recent quarters, and ecommerce, which is poised to take off as smart phone adoption accelerates in India. Comps such as M-PESA in Kenya (30 million user market size and $1.1 billion in monthly transaction volume) and QIWI (NASDAQ: QIWI) in Russia (70 million user market size and $1 billion in monthly transaction volume), have validated the mobile payments model. MoM is targeting 700 million users, and India is the world’s fastest growing economy. QIWI’s market cap is about $659.2 million, compared to $40.5 million for MoM, giving an idea of the potential upside for CLPI. Over time, as transaction volume increases and MoM builds its infrastructure, net income and gross profit will accelerate rapidly, as has been seen with QIWI, where fixed costs stay constant, leading to faster net income growth.

• MOM revenue grew 26% from 1Q16 to 3Q16, and gross profit margin grew by 70% in the same period
  • Total processed volume up 108% in the same period with a processed volume run rate of Rs 14 billion Indian Rupees ($1 billion USD)
  • Currently MOM has 176 million Indian Consumers and their payment services are distributed through 313,541 retail stores


• MOM wallet allows users to pay their payments through an easy cell phone app
  • Customers can pay their utility payments, recharge cell phones, pay cable bills and are provided with easy access to ecommerce


• Indian market is perfect for mobile payments
  • $30 billion prepaid telephone market, $10 billion prepaid TV market (MoM has <0.5% of each)
  • 91% of transactions completed in cash
  • 900+ million mobile phones; 1.1+ billion SIM cards
  • Indian smartphone market projected to grow 500% between now and 2017
  • Paying bills in India involves one stop per vendor and endless lines; MoM saves citizens one half to one whole day per month, plus reduced transport fares and aggravation


• Impressive trends in metrics
  • 7.8 million users accessed the service during March 2016
  • 4.5 million repeat users in March 2016, up 15% from March 2105

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