25 March 2017
visit http://events.sap.com/gb/fsi-forum-2017/en/home

Obopay partners Yes Bank for Indian launch

28 March 2008  |  4803 views  |  0 smartphone

California-based mobile payments start-up Obopay has teamed with India's Yes Bank to launch its person-to-person money transfer service in the country.

Yes Bank customers who sign up for the service at branches and ATMs in Mumbai and National Capital Region will be able to instantly transfer money to and from any mobile phone, says Obopay.

Users can either download software to their phone or use the service via SMS or interactive voice response. The recipient of any funds transferred over the system can withdraw the cash using their Yes Bank debit card.

"Together, Obopay and Yes Bank give Indian mobile consumers power over their money no matter where they are," says Aditya Menon, executive director, Obopay India. "This service is built for today's mobile lifestyle, making funds available to consumers anytime, anywhere."

Yes Bank looks set to be the first of several Indian partners for Obopay, which said in January it had struck deals with six banks and three telcos in the country.

The firm has also established a development centre in Bangalore. It will face competition from local mobile payments vendors such as mCheck and JiGrahak, which operates the NGpay platform.

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Obopay gears up for Indian launch

Obopay gears up for Indian launch

09 January 2008  |  7050 views  |  0 comments
Indian m-payments outfit PayMate eyes North American remittance market

Indian m-payments outfit PayMate eyes North American remittance market

04 December 2007  |  8532 views  |  0 comments
Mobile payments to soar - research

Mobile payments to soar - research

31 October 2007  |  10183 views  |  0 comments
Obopay raises $29m in third round funding

Obopay raises $29m in third round funding

12 July 2007  |  6478 views  |  0 comments
Mobile payments set to take off in developing world - Juniper Research

Mobile payments set to take off in developing world - Juniper Research

10 July 2007  |  10968 views  |  0 comments
Verizon to offer mobile payments via Obopay

Verizon to offer mobile payments via Obopay

21 June 2007  |  6656 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit capgemini.comvisit abe-eba.euParticipate in the survey

Top topics

Most viewed Most shared
French retailer Carrefour launches online bank accountFrench retailer Carrefour launches online...
56998 views comments | 15 tweets | 35 linkedin
Can banks really win in the payments business of the future? – new Finextra reportCan banks really win in the payments busin...
8392 views comments | 23 tweets | 37 linkedin
European Commission opens public consultation on fintechEuropean Commission opens public consultat...
7736 views comments | 39 tweets | 24 linkedin
Westpac wants to take over your messaging keyboardWestpac wants to take over your messaging...
7010 views comments | 4 tweets | 10 linkedin
SecureKey taps IBM to put identity on the blockchainSecureKey taps IBM to put identity on the...
6789 views comments | 22 tweets | 15 linkedin

Featured job

Six Figure Base + Commission + Stock Options
London

Find your next job