US Mobile Payment Company Obopay Enters India; Hires Yes Bank's Aditya Menon As CIO

US-based mobile payment company Obopay has announced that it’s entering the Indian market. The company has appointed Aditya Menon as chief information and technology officer for India. The company plans to bring mobile payments to banks, carriers and consumers across India. “Clearly India is a great market, which drove our decision to invest there,” Carol L. Realini, CEO of Obopay, said in a statement.
Obopay said it is here because India is the world’s fastest-growing mobile market with more than 150 million subscribers and adding about six million new subscribers every month. Menon joins Obopay from Yes Bank where he was CIO. He was earlier Group CIO at MphasiS, leading IT cmpany in India.
Obopay’s mobile payments service allows mobile phone subscribers to send money, give gifts, pay each other and make purchases from their mobile phone. Obopay is based of Plao Alto and has got funding from Richmond Management, Redpoint Ventures and ONSET Ventures.
India already has a few mobile payment companies like PayMate and JiGrahak.

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