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‘PayPal of India’ could change way of life for 1.3 billion
Cash is more than king in India. It’s crucial.
More than half of the country’s 1.3 billion people don’t have bank accounts, much less credit or debit cards.
That was the inspiration for Money-on-Mobile, a company based in Mumbai that’s being bankrolled by Calpian Inc., a publicly held electronic payments company based in Dallas.
Founded by Shashank Joshi in India in late 2010, Money-on-Mobile allows Indians to use simple-function cellphones and low-tech text messaging to shop and pay bills.
It’s being called the PayPal of India.
More at http://www.dallasnews.com/business/columnists/cheryl-hall/20140426-paypal-of-india-could-change-way-of-life-for-1.3-billion-people.ece .
