Money-On-Mobile’s pilot participation is set to be rolled out in Mumbai, Delhi, Kolkata and Surat through 52 existing retail partner locations. Based on the UIDAI’s Aadhaar program that provides citizens with unique biometric identification numbers (similar to social security numbers), the pilot program’s objective is to establish a mobile pay-out system that authenticates the identities of parties involved in cash transfers.
Money-on-Mobile is a prepaid Indian mobile payment service that allows customers to use their mobile phones for making payments and transferring funds from one phone to another via SMS.
US-based payment processor and mobile payments technology company Calpian was founded in 2010 as a public company functioning as an intermediary between processors and merchants to enable payment for goods and services at the retail point-of-sale (POS).
In October 2013, Money-on-Mobile received a five year renewal of its authorization from the financial institution Reserve Bank of India (RBI) to operate a mobile payments system in the country.
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