Meet India’s Square: Eko Processing $270 Million in Payments a Year

July 12, 2011 2:39 am

We have written about Square transaction statistics. Today we spotted this:

“Forget glitzy iPhone financial apps. The most innovative stuff is mobile payments is being done using basic SMS, and it’s dramatically changing people’s financial lives. Savings soar when your money isn’t readily available, people can safely travel between villages without fear of being robbed, and paying for goods and services no longer requires an in person transaction.

The last time I saw him he’d processed less than $1 million in transactions over the life of the business. He’d just deployed a major shift in strategy that’s apparently worked: In the twelve months following our last meeting Eko has processed a staggering $270 million in transactions– most of them for less than a few dollars at a time.”

Statistics Source: TC

For Interesting Statistics Everyday, Find Statspotting on Facebook and Follow Statspotting on Twitter

Leave a Reply