In a bid o expand its operations in India, digital payments brand MoneyOnMobile is planning to invest $6.2 million.
The company recently completed a fund raising intended to boost its card-swiping terminals to 30,000 in the next six months from 5,000 at present.
Its expansion in terms of investments in India has been indicated by firms Chief Executive Officer, Harold Montgomery.
Montgomery further said that with India emerging as one of the most exciting payments markets in the world, company’s footprint expansion will enable the rural and the poorer segments of the country to initiate digital transactions.
“We have retail outlets where end consumers can just walk in and do transactions like bill payments, remittances and cash out. We have also enabled Aadhaar-enabled transactions, thereby creating a mini-ATM in far flung rural areas,” said Harold Montgomery, Chief Executive Officer, MoneyOnMobile.
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