MoneyOnMobile Inc (MOMT)

[Roland Rick Perry]

MoneyOnMobile Doubles Addressable Market.

MoneyOnMobile Doubles Addressable Market Size of Its Money Transfer Product

Adds 116 New Banks So More Customers Can Send Money Through its Agent Network

DALLAS, TX and MUMBAI, INDIA--(Marketwired - Feb 21, 2017) - MoneyOnMobile, Inc. (OTCQX: MOMT) today announced its mobile payments platform, one of the largest in India, now has access to an additional 116 banks throughout India, doubling its potential customer base, potential revenue and processing volume. Access to these new banks means more customers across the country can complete financial transactions digitally at one of MoneyOnMobile's 325,000 retail merchants.

"This is an exciting move for MoneyOnMobile to expand into smaller cities, towns, and villages with little financial infrastructure," said Harold Montgomery, CEO and Chairman of MoneyOnMobile. "There are only 155,000 branch banks in India and about 200,000 ATMs -- one-tenth the number per capita compared to the United States. So, the 600,000 villages are terribly under-served. When we get MoneyOnMobile into a retail store in a village, the store really becomes a financial services center."

Full Release: http://www.otcmarkets.com/stock/MOMT/news/MoneyOnMobile-Doubles-Addressable-Market-Size-of-Its-Money-Transfer-Product?id=151583&b=y