Obopay, a leading provider of mobile and instant payment solutions for market-leading brands, announced the availability of Obopay Licensed Payment Services for Partners. Obopay Licensed Payment Services for Partners is a new offering that enables partners to leverage Obopay’s money transfer licenses throughout the U.S. and its expertise in compliance to accelerate bringing their own…
Obopay mobile and instant payment solutions for market-leading brands, announced the availability of Obopay “Disbursements.” The new offering lets subscriber companies disburse funds from their corporate account directly into a payees debit card account at another bank and disbursements as an electronic check through an automated clearinghouse (ACH) transaction, or to a branded prepaid card. The “Disbursements” solution allows companies to realize significant business benefits by converting physical checks and cash into digital payments, which dramatically reduces their costs. Obopay’s offering makes transaction settlement easy for companies by providing them with a single, secure, corporate settlement account that manages all electronic transaction types. Companies can transfer funds from their corporate account directly to a customer’s existing debit card; a bank account via an electronic check; a branded Prepaid Card; or an Email, phone number or mobile wallet.
Obopay mobile banking and payment solution provider collaborated Warid Telecom to launch a mobile banking and payment service, “Warid Pesa.” The “Warid Pesa” offering provides a prepaid account that enables customers to perform e-money transactions, pay for goods and services as well as settle accounts. It is based on Obopay’s open and interoperable mobile money solutions, which now support millions of customers globally for some of the world’s largest brands. It ultimately offers new channels of distribution for offering financial services that are useful in areas with income disparity. It facilitates Person-to-person mobile money transfer; Person-to-merchant mobile money transfer; Send money to anyone; Request money; Obtain a mini statement of the account; Balance inquiry; Change Personal Identity Number (PIN); and Top up prepaid cell phones.
Obopay mobile banking and payment provider has promoted President Deepak Chandnani to CEO to focus on the company’s growth in size and geographic scope. Appointed President in May of 2010 he doubled the company’s year-over-year revenue through growth in business across US, parts of Africa and India. While sustaining the focus of the Company in its home market, the United States, Deepak has spearheaded Obopay’s expansion into North and East Africa as well as positioned the Company for expansion into parts of Europe. Throughout his time as President, he has overseen Nokia, Union Bank of India, Yes Bank, Societe General, Essar, MasterCard, FIS Global and the STAR network partnerships. He was previously the CEO of Wire and Wireless in India and before that served as the Managing Director for NCR in India while his education includes an MBA from the Indian Institute of Management, Ahmedabad (IIM- A).
Tyler Sloat has joined Zuora subscription billing as CFO, bringing with him financial experience in securing capital and growing market leaders in mobile payments and storage and cloud computing, including raising over $100 million for Obopay. He will over see mobile payment operations in his new role. Most recently, Sloat was the CFO for Obopay, the global leader in mobile payments where he was responsible for all finance, accounting, treasury operations and business intelligence functions. Sloat was integral in raising well over $100M in investment and strategic capital, forming global commercial relationships with the likes of Nokia, MasterCard and Societe Generale, and deploying Obopay’s mobile payment service in four countries spanning three continents. He holds an M.B.A. from the Stanford Graduate School of Business and has a B.A. from Boston College.
Obopay mobile money solutions has forged agreements with the STAR Network through which Obopay will incorporate the STAR “Expedited Transfer Service” real-time transfers. Allowing instant tranfers between STAR accounts, the STAR “Expedited Transfer Service” places the demand deposit account at the center of the transaction and offers transaction speeds not possible with Automated Clearing House (ACH) transfers. This ultimately allows banks to offer a fast, secure and convenient way for their customers and members to send and receive money using their mobile phones. STAR member financial institutions are eligible to offer their customers the ability to initiate both outbound and inbound Expedited Transfer transactions, so STAR cardholders can send funds to their own or other people’s STAR accounts as well as pull money from their STAR cards into another account. STAR is a First Data company and a leading debit network.
Societe Generale financial services and Obopay mbanking have teamed to bring mpayment services to banked and unbanked customers who have access to a mobile phone with “Yoban’tel by Obopay.” With “Yoban’tel by Obopay,” mpayments are accessible available in new markets on a carrier-agnostic, mobile money transfer and bill payment service available to all the people of Senegal with a mobile phone. This is accomplished by leveraging SGBS’s current branches and opening up new channels of distribution for banking services through commercial partners including Credit Mutuel du Senegal, TIGO and CANALSAT HORIZONS. Users can enroll for a mobile payment service and load or pick up cash at designated locations throughout Senegal. They can also use the service to send money to anyone throughout the country, or to pay a bill.
MasterCard Worldwide and Obopay have teamed to offer the “MasterCard MoneySend” service for iPhone and iPad users. MasterCard MoneySend allows users in the U.S. to send or request money via their iPhone through participating banks and credit unions, or when
they create a virtual prepaid account through Bancorp Bank that is
linked to an existing MasterCard payment card or checking account. The
designated account funds the MoneySend transaction, and users can manage
and trigger the exchanges through the app. Personal and financial
information is never stored on the iPhone or iPad.MasterCard MoneySend is available for free
download at the iPhone App Store.
MasterCard is set to launch “Mobile MoneySend”, its fully-integrated, on-demand person-to-person (P2P) mobile
payment platform for issuers this month. Bank customers
will be able
to offer “Mobile MasterCard MoneySend” P2P payments to their
MoneySend” provides a better way
to send and receive funds via SMS-text, mobile browser, mobile applet or an Internet PC. Initially, consumers will be able to use MoneySend with a MasterCard prepaid card issued by The Bancorp Bank and then link it to their mobile
phone number to send or receive money.
Nokia has decided to make a $70 million minority investment in Redwood City, CA-based Obopay. The service works on any phone and any carrier to empower consumers and businesses with the convenience of mobile payments. Obopay has also named Teppo Paavola, vice president and head of Corporate Business Development at Nokia, to its board of directors. Obopay says it will use the investment to aggressively extend its product suite and enhance its global presence. Obopay charges 25 cents to send any amount up to $1,000.
CA-based mobile payment provider Obopay has introduced three widgets to
help users donate and pay money quickly. Obopay’s cash gift widget is
ideal for those who prefer cash gifts for
weddings, birthdays or any gift-worthy event. For charitable and
community organizations, the
Obopay donation widget facilitates receipt of desperately needed
dollars. With Obopay’s payment widget, individuals selling items online
can accept payment for items with no hassle. Each of Obopay’s widgets
can be customized with specific amounts and
text and easily added to social networking profiles, blogs, or online
listings of any type.
The industry’s first core provider to launch a mobile
phone-based person-to-person payment service is taking shape.
Fidelity National Information Services and Obopay will launch a
person-to-person mobile money transfer service for financial
institutions using FIS core processing services. Obopay estimates there
are 260 million mobile consumers in the USA. Industry research shows
there could be as many as 80 million unbanked U.S. consumers. The FIS
mobile P2P service gives banks will open a new major market for banks.
The new FIS/Obopay service will initially be offered with checking
accounts or prepaid cards linked to the mobile phone. FIS has processing
and technology relationships with 40 of the top 50 global banks,
including nine of the top 10. Last month, Citi announced the launch of
“Citibank Paylink for Commercial Cards” and the launch of a pilot of a
new mobile person-to-person money transfer service with Obopay.
“Citibank Paylink for Cards” integrates a purchasing card into a
client’s accounts payable system. The MasterCard “Payment Gateway” acts
as the network between Citi, the buyer and the supplier. (CF Library