MoneyOnMobile Takes Home Honors At Indian Event

June 16, 2017         By: Steven Anderson

Generally, when a company wins an award from pretty much any industry event, it’s a big deal. Even if the organization or the industry event isn’t familiar, it’s a tacit sign that someone with some level of expertise has taken particular notice of a product or service. For MoneyOnMobile, it was two separate honors taken home from a pair of industry events that garnered the company substantial new recognition.

MoneyOnMobile managed to land not only The Best Mobile Payment Solution of the Year from the Elets Digital Banking and Payments Conclave, but also the Best Implementation of Digital Payments award from the BusinessWorld Digital India Summit.

The MoneyOnMobile system offers an ATM system that gives users access to a large-scale cash withdrawal mechanism, which can be accessed throughout India at over 1,500 retail stores.

Harold Montgomery, MoneyOnMobile’s chairman and CEO, commented “We are proud and honored to have our team recognized by these prestigious institutions. The team is always thinking of how they can provide our retailers the best products and solutions to help with their business. Recognition like this validates the thoughtful energy and dedication our team gives every day and inspires them to always be striving for continued improvement.”

This likely was a helpful development back in the last part of 2016 when the Indian government engaged in widespread devaluation of its larger bills. Undoubtedly, customers were avidly looking for a point of contact between themselves and the banks and the like that could help them properly process all that soon-to-be-worthless cash.

While it’s sort of a roundabout way to engage in mobile payments, the idea is valid enough as it turns mobile capabilities into payment potential. Its effect may be limited going forward, especially as mobile payments systems increasingly better address the lower-end phone user, but for now it’s enough to keep it in the game.

It also reflects the nature of mobile payments worldwide; some places are moving more aggressively away from cash than others, and cash will probably always be part of the picture anywhere one goes. MoneyOnMobile, therefore, is addressing an important part of everyday life, one that should be well worth rewarding.