Obopay's global vision brings mobile money transfer to consumers in India
REDWOOD CITY, Calif., March 27 /PRNewswire/ -- Obopay, Inc., the
pioneering service provider for payments via mobile phones, today announced
the launch of their instant money transfer service in India through an
alliance between wholly-owned subsidiary Obopay India and YES BANK, an
Indian private sector bank.
The launch of Obopay's service in India represents a significant
development in Obopay's commitment to delivering on a unique and market-
shaping vision for the future of mobile money transfer and mobile payments.
"Since our launch in 2005, Obopay has grown based on our recognition of
the enormous market need for immediate, secure and convenient mobile money
transfer," said Obopay Chief Executive Officer Carol Realini. "We have
recently announced significant product enhancements, including the ability
to use Obopay with any existing American bank account, and our expansion
into the Indian market demonstrates Obopay's viability in the global
market."
With Obopay, YES BANK customers securely and instantly transfer money
to and from any mobile phone number with Obopay's mobile application, text
message or mobile Web. YES BANK customers can instantly withdraw cash
received using their YES BANK debit card. YES BANK customers can sign up
for Obopay through forms available at YES BANK branches and ATMs in Mumbai
and National Capital Region (NCR).
"Together, Obopay and YES BANK give Indian mobile consumers power over
their money no matter where they are," said Obopay India Executive Director
Aditya Menon. "This service is built for today's mobile lifestyle, making
funds available to consumers anytime, anywhere. We're excited to bring this
innovative service to India."
With more than 250 million mobile phones in use, India's mobile
consumer population is on par with America's 257 million mobile consumers.
India's mobile market has grown exponentially in recent months, adding more
than 8 million customers each month in 2008.
For more information about Obopay, visit http://www.obopay.com.
ABOUT OBOPAY
Obopay, Inc. (http://www.obopay.com) is a pioneering service that lets
consumers and businesses purchase, pay and transfer money through any
mobile phone using Obopay's mobile application, text message, mobile Web,
widget or Obopay.com. As the first mobile payment service created
exclusively for the mobile phone, only Obopay works on any phone and any
carrier to empower consumers and businesses with the convenience of mobile
payments. Obopay is bringing mobile payments to more consumers through
industry-first alliances and is headquartered in Redwood City, California.
ABOUT YES BANK
YES BANK, India's new age private sector bank, is the outcome of the
professional commitment of its founder, Rana Kapoor, to establish a high
quality, customer centric, service driven, private Indian Bank catering to
the "Future Industries of India." YES BANK has adopted international best
practices, the highest standards of service quality and operational
excellence, and offers comprehensive banking and financial solutions to its
customers. YES BANK takes a knowledge driven approach to banking and
delivers an unprecedented customer experience for its clients.
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