For investors looking for publicly traded companies in the space, there are a handful of companies already gaining traction.
India Mobile Payment Stocks Snapshot
Calpian, Inc. (OTCQB: CLPI) reported in early April that its Indian subsidiary, Money-on-Mobile, had its largest growth month to date. According to the press release, " As of March 31, 2013, the Money-on-Mobile service offered by its Indian subsidiary, is now being supported by over 130,250 retail locations, increased from 126,200 on February 28, 2013, and accessed by approximately 44 million unique phone number customers, up from the 39.5 million reported from the previous month. The March 2013 processed transaction volume, measured in Indian rupees, was 810 million INR - an approximate 149 million increase over February 2013 processed volume. At current exchange rates, March processed transaction volume was approximately $15 million.
Calpian's (OTCQB: CLPI) stock is trading in the $2.00 range with a 52 week high of $3.25.
According to Calpian CEO, Harold Montgomery, "The growth of Money-on-Mobile is nothing short of astounding. We continue to see, month after month, the number of unique users, retail outlets and processed volume increase dramatically. We could not be more pleased that Money-on-Mobile is thriving in the Indian marketplace."
Last week Vodafone (NASDAQ:VOD) India and ICICI Bank launched M-Pesa - a leading mobile money transfer and payment service .
According to the press release, " Pesa was launched by Vodafone in 2007 and is now available in eight countries, including Kenya, Tanzania and the Democratic Republic of Congo. The service allows customers to send and receive small amounts of money via their mobile phones as securely and simply as sending a text message. Prior to M-Pesa, many people in developing markets had no choice but to move cash around in person or by public transport, exposing them to delays, personal risk and loss of money in certain cases.
Following a successful trial, the service will be offered initially through more than 8,300 specially trained and authorised M-Pesa agents in eastern areas of India, including Kolkata, West Bengal, Bihar and Jharkhand, covering a population of around 220 million people. The service will be rolled out across the rest of India in a phased approach."
Vodafone (NASDAQ:VOD) is trading at $29.71, up 0.12(0.41%) 9:49AM EDT on just under 900,000 shares.
Citibank Indiaa subsidiary of Citigroup, Inc. (NYSE:C) announced earlier this year its launch of a fully integrated and certified mobile payment solution in India and across the Citigroup network, globally. The stock is trading at $44.91 on just over 1.8 million shares in early morning trading.
Investors can research more mobile payment stocks with Investorideas.com stock directories
*article source: http://articles.timesofindia.indiatimes.com/2013-04-01/internet/38188848_1_bhaktha-kesavachar-electronic-transactions-abhijit-bose
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