Obopay

A mobile payment provider Obopay added new functionality for its Mobile Money for Banks offering, broadening the scope of mobile transaction capabilities for banks and their customers.

The solution from Obopay enables complete brand control and a full range of mobile transactions and applications with simple low-cost integration and deployment. With the new functions Mobile Money for Banks solution will allow users to transfer money between banks and accept card payments and electronic checks.

The new functions for Mobile Money for Banks include:

A mobile money solutions provider Obopay has entered into an agreement with the STAR Network, a First Data company and a leading debit network. The partnership will enable Obopay to incorporate the Star Expedited Transfer Service into its own Mobile Money for Banks offering. The Star Expedited Transfer Service enables real-time transfers between Star accounts.

There’s a lot of momentum behind Person-to-Person (P2P) payments in the U.S. JP Morgan Chase is the most recent, but PayPal, Fiserv, CashEdge, Obopay, and others are signing banks and trying to get consumers to enroll and use the service. The networks must interconnect if banks want the new payment revenue.

Societe Generale presents a new mobile payments service in Senegal, Yoban'tel,  that is open to anyone with a handset, who whether or not have a bank account and regardless of their network operator.

Nokia is piloting its Nokia Money mobile financial service in India under the agreement with a largest local bank Yes Bank. Introduced in August Nokia Money financial service is based on the mobile payment platform from Obopay.

As a part of the commercial pilot Yes Bank's Mobile Money Services will allow mobile users to transfer money to another person by using the person's mobile phone number and also pay utility bills. The service is being tested in the city of Pune in western India.

The development of money transfer services market via mobile phones in the East Africa is to intensify with the entry of Obopay, a global provider of payment solutions.

Obopay has teamed with Essar Telecom Kenya (ETK) Kenya’s fourth mobile network, and Nokia, to launch a money transfer services called yuCash to be carried out under the Obopay platform.

Local telecommunications service provider Essar Telecom Kenya Limited's yu branded mobile phone service has introduced its mobile money transfer service.
The service branded "yuCash by Obopay" is the latest in services the firm has unveiled and is positioned to change the landscape of mobile money transfer in the country.

Citi has announced the end of its three year mobile money test with Obopay and also abandons any continuation of relationship with with m-banking supplier Firethorn.

The US largest bank has heavily financed mobile banking and payments in recent years partnering with mFoundry and contactless specialist Vivotech as well as Obopay and Firethorn.

Citi, which has also invested in Obopay, says the test has now ended and the results are being evaluated.

Obopay, a leading mobile banking and payment provider, today announced it has been chosen as a Technology Pioneer 2010 for its innovation, transformational technology, leadership and substantial long-term impact on businesses and society by the World Economic Forum. Obopay is one of 26 companies from around the world to be honored with this prestigious award. In addition, Obopay is one of only 11 companies in the Information Technologies, Telecommunications and New Media category and is the only financial services provider receiving the award.

 Obopay has announced its entrance into the online games market with the immediate availability of a mobile payment solution. With Obopay's mobile payment service, consumers can "mobilize" their credit or debit card by linking it to their mobile phone number, making it convenient to quickly purchase goods online. 

 mChek, a mobile payment services provider, closed its series-B round of funding, with Nexus India Capital who will inject between $5-8 million into the company. VC firm Draper Fisher Jurvetson, which invested in the company in the first round in 2006, has also participated.

Main competitors of mCheck at the market are One97, Obopay, and Paymate who are creating their niche in the ecosystem and tying up with banks and operators in a race to build up their offerings.