Mar 12, 2010

Redwood City, CA — March 12, 2010 — Obopay, a leading global mobile payments and banking provider, was recently chosen by MIT’s Technology Review as one of the Top 50 Innovative Companies in the world for its business model, deployment strategies, scalability of technologies as well as success rate. Obopay’s award was in the ‘Private Web Company’ category for bringing innovation in mobile payments through its open, trusted, secure and interoperable mobile payments platform and services. Obopay is changing the financial services landscape by transforming any mobile phone into a convenient and easy way to send and receive money and get paid – anywhere, anytime with anyone. Other companies in ‘the Web’ category include companies like Google, Twitter, IBM, Adobe, among others.

The editors of Technology Review analyzed companies over the last year that demonstrated superiority at inventing technology and using it for business growth as well as for transforming the lives of people. The companies identified were the ones with the most promising technologies, whether they were giant corporations or startups with initial venture capital investments.

Elaborating on this recognition, Carol Realini, Chief Executive Officer and Founder, Obopay, said, “With services live on three continents including both developed and emerging markets, Obopay is committed to delivering mobile banking and payments to all people and businesses in the way that best meets their needs regardless of geography through all operators, carriers, financial institutions, mobile handsets and merchants. This award from MIT underscores our progress in making a breakthrough by delivering unprecedented, affordable and innovative access to basic financial services to billions globally.”

For more information about the award, please visit: http://www.technologyreview.com/companywatch/tr50/.

About Obopay

Founded in 2005, Obopay, Inc. (www.Obopay.com) delivers an open, trusted, secure and interoperable mobile payments and banking service by transforming any mobile phone into a convenient and easy way to send and receive money and get paid – anywhere, anytime with anyone. Obopay’s broad based offering addresses the needs of consumers and businesses around the world by providing a ubiquitous service that delivers value, empowers lives and improves opportunity for merchants both in the physical and virtual worlds. Obopay’s innovative mobile money services make it easy for all mobile phone users to securely send and receive money, top-up their mobile account, buy online, buy via mobile, pay bills and pay for purchases with small businesses. Obopay was selected as the only financial services provider to be named Technology Pioneer 2010 by the World Economic Forum and was named one of the 50 most innovative companies in the world by MIT Technology Review. Obopay believes the power is in the network and has global partnerships with companies like Nokia, MasterCard , Essar and Societe Generale. Obopay powers the MasterCard MoneySend service in the U.S., the Nokia Money initiative in India and yuCash by Obopay in Kenya. Global headquarters are in Redwood City, CA with operations in India.

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Media Contact:

Virginia Shaffer
PR Executive
Obopay
Email: vshaffer@obopay.com
650.421.6752
www.obopay.com