Company Overview of Obopay, Inc.
Obopay, Inc. provides mobile payment services in the United States. Its services enable the customers to receive, send, and spend the money through mobile phone using Obopay’s mobile application. It offers Obopay Prepaid MasterCard, a prepaid card that allows users to get access to the money in Obopay account; and Obopay Disbursements, a disbursement solution that enables a company to disburse funds from their corporate account directly into a payees debit card account at another bank. The company also offers Obopay Family Account that allows users to open an Obopay account and add anyone over the age of 13 to send money. Its Obopay Family Account card also enables the customers to track the...
350 Marine Parkway
Redwood City, CA 94065
Founded in 2005
Key Executives for Obopay, Inc.
Chief Executive Officer and President
Co-Founder and Executive Chairman
Co-Founder and Chief Technology Officer
Chief Financial Officer and Executive Vice President
Executive Vice President of Global Operations & Compliance
Compensation as of Fiscal Year 2013.
Obopay, Inc. Key Developments
Visa and Obopay Collaborate for Near Real-Time Electronic Disbursements to Visa Prepaid Cards
May 9 12
Visa, Inc. and Obopay, Inc. announced a collaboration to enable near real-time payment solutions for disbursing electronic funds to a prepaid card. As a result of the agreement, Obopay will offer its partners the ability to disburse funds from their corporate account directly onto a Visa prepaid card which they can provide to a payee. The capability can benefit a range of industries including insurance, payroll, rebates, incentives, business expenses, government disbursements or any other bulk payment need, and can be particularly valuable in situations in which recipients have an immediate need for funds. Obopay Disbursements provides the broadest range of disbursement and bulk payment solutions in the industry; enabling corporations that need to issue large numbers of payments to reduce their costs by disbursing funds electronically. Offering a Visa prepaid card as part of Obopay Disbursements allows consumers timely access to funds that can be used everywhere Visa debit cards are accepted. Using Visa prepaid cards also allows businesses to send funds to any consumer, including those that don't have access to a traditional bank account. Disbursing funds to a Visa prepaid card can help an unbanked or under-banked payee avoid expenses that often come from receiving funds to a check such as a check-cashing fee and eliminates the need for consumers to wait to receive and cash a check in order to access their funds. The new offering is available immediately as part of Obopay Disbursements. With Obopay Disbursements companies can disburse funds using digital payments in place of issuing physical checks or cash, allowing for more timely disbursement of funds, dramatically reducing the employer's costs and increasing security, convenience, and recipient satisfaction. With the addition of Visa prepaid cards, recipients don't have to wait for and then cash a check or handle large amounts of cash. The solution also enables funds to be disbursed via the PIN debit and ATM networks to which Obopay is connected, as well as via ACH.
Obopay, Inc. Promotes Chris Martin to General Manager for North America
May 3 12
Obopay, Inc. announced that Chris Martin has been promoted to General Manager for North America. He will serve in the new position in addition to his role as Executive Vice President of Global Operations. In both roles, Martin will continue to report to Obopay President and CEO, Deepak Chandnani. In his new role at Obopay, Martin will assume full responsibility and have business development and P&L oversight for Obopay's North American business. Martin also continues to have global responsibility for operations, IT infrastructure /data centers, program management, quality assurance, risk mitigation and compliance leadership. Previously at Obopay, Martin oversaw the build out and daily guidance of Obopay's global operations, Treasury & product management organization. He also serves as Obopay's Chief Compliance Officer and under his leadership Obopay has developed a significant competitive advantage in the licensing and compliance expertise that the company has built. Prior to joining Obopay in 2007, Martin served as director of finance and treasury at Yahoo! where led the finance-program management office and built the international treasury operations and compliance infrastructure supporting 27 countries. Martin will be headquartered at Obopay's corporate offices in Redwood City, CA.
Obopay, Inc. Announces the Availability of Obopay Licensed Payment Services for Partners
May 3 12
Obopay, Inc. 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 differentiated payment solutions to market. With Obopay Licensed Payment Services for Partners, Obopay extends agency agreements to its partners and ensures compliance with applicable state and federal regulations. Partners can also take advantage of Obopay's connections to a broad range of payment networks, as well as its risk management, compliance and settlement capabilities that enable companies to deliver additional unique services under their own brands. In addition, the company also has active Anti-Money Laundering (AML) and transaction-fraud detection programs. Obopay's security and compliance procedures are regularly audited by financial services providers, mobile operators, third party auditors and state regulators. Enabling partners to take advantage of Obopay's licensing and compliance expertise through this agency relationship is a natural extension of the company's solutions for partners. Partners can take advantage of Obopay's Licensed Payment Services for Partners as a standalone offering, or can also leverage Obopay's other complimentary offerings that are based on its licensing and its broad and unique connections to payment networks including Obopay Disbursements, and Obopay's Mobile Money for Banks.
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