Obopay has named its Mumbai, India-based sales chief Deepak Chandnani as president as the company expands its mobile payments business worldwide.
Chandnani was formerly head of sales and marketing of the Redwood City, Calif.-based company. He will report to chief executive Carol Realini.
Realini said in an interview that the time is ripening for mobile payments to expand dramatically. Chandnani's promotion -- and the fact that the company is tapping an executive based overseas for a key position -- shows that worldwide growth is a priority.
The big question is whether mobile payment services -- money transfer, payment for physical goods, payment for online goods -- will take off in areas where credit cards are popular, such as the U.S.
"This is the year it will take off," said Realini.
On May 11, Obopay announced an expanded new service targeted at banks. The Mobile Money for Banks platform lets banks set up their own branded mobile service within a month.
Chandnani has helped expand the company's service on three continents, with focus on the U.S., India and Africa. He joined to head regional operations in emerging markets in November 2008. Last year he assumed oversight of sales, marketing and business development.
Rivals such as Vodafone have made mobile payments into a staple business tool in Kenya. But mobile payments have been slower to take off in the U.S. Chandnani will be based in the company's office in Mumbai, India. The company has 250 employees and was founded in 2005. Partners include Nokia, MasterCard, Citi, AT&T, Verizon, Essar, Yes Bank in India, Blackberry and Societe Generale. Obopay has raised $140 million in funding.