Deepak Chandnani Promoted As Obopay's Global CEO

Obopay, the mobile banking and payment provider, has announced the promotion of its President, Deepak Chandnani as CEO of Obopay, Inc. Founder and CEO, Carol Realini will assume the new role of Executive Chairman. In his new role, Chandnani will focus on the company’s significant growth in size and geographic scope, while Realini will continue her focus on corporate strategy as well as furthering Obopay’s corporate vision: evangelising the need for mobile money and building its widespread adoption throughout the world.

Chandnani will be based out of Obopay’s Corporate Office in Mumbai, India, while Realini will be based out of Obopay’s Corporate Office in Redwood City, CA.

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“Over the last two years, Obopay has shaped and led the way for the mobile banking and payments space globally,” said Realini. “Our revenue has doubled over last year and we expect it to do the same in 2011. Deepak has clearly demonstrated that he can scale the company as we continue our growth around the world. This promotion recognises Deepak’s immense contribution as well as fulfills a need for an expanded and experienced management team as we move forward.”

“Naturally, I am very pleased with our growth this year,” said Chandnani. “But the mobile payments industry is not anywhere near its potential. At Obopay, we have laid the ground work through partnerships with market making global brands; an unparalleled understanding of local regulatory processes; and products that are meeting the demands in India, Africa and the U.S. Now, I am looking forward to leveraging these advantages into dramatic returns for the company.”

“Carol and I have a strong partnership that complements each other’s capabilities,” Chandnani added. “This has resulted in the company’s success as a pioneer serving the cause of financial inclusion as well as the goal of enhanced financial services across diverse global markets.”