Platform Positioned to Deliver Connections, Brand Management, and Settlement including Blockchain and Cryptocurrency
Pareteum Corporation today announced services deployment to its first India based customer for their mobile subscribers. These services enable India home country usage, and seamless global service when traveling or living abroad. Pareteum’s expedited deployment of the $3,000,000 agreement, announced in October, begins revenue generation in the first quarter of 2018, well ahead of scheduled backlog implementation.
As Pareteum’s first Global Cloud offering in India, subscribers are able to use our full suite of mobile enablement and connectivity services, plus mobile payments, including the most recently announced Blockchain support. With over 299 Million Smart phones in India, according to Statistica, India is a concentrated global demographic, with a continued underserved communication need. Further, Statistica indicates the market for Connections is robust and micro-financing via mobile phones and Blockchain settlement are expected to increase market penetration.
“This was a significant win for us in one of the largest growth areas in the world and to begin generating revenue from this new customer so quickly proves the power of our cloud model. Continuing to streamline the efficiency of our cloud deployments to get to revenue faster is one of our largest priorities as we kick off 2018,” stated Pareteum Chief Executive Officer Vic Bozzo.
Hal Turner, Pareteum’s Executive Chairman and Principal Executive Officer commented, “Service providers in India and the Indian subcontinent are seeking ways to ensure mobile access for their subscribers, to accelerate new services and innovation, and to serve their subscriber community, wherever they are in the world. Our first India located customer chose Pareteum because of our feature rich global platform and connectivity, with its developer Application Programming Interfaces (API) framework. Pareteum’s selection was based on the profitable customer value derived from our cloud, its connectivity, and the ease of doing business with us. Now, with our newly supported mobile payments and Blockchain capabilities plus their expectation of future mobile services and capabilities, ranging from Artificial Intelligence (AI), Machine Learning (ML) and Internet of Things (IoT), we expect to grow with our customer in India, and everywhere they choose to do business.”