Obopay Names New CEO

Mobile payments provider Obopay on Tuesday transitioned its leadership, promoting its president Deepak Chandani to CEO of the company as Carol Realini, the company's founder and CEO assumed the new role of executive chairman.

Realini, whose new focus will be on corporate strategy and communications, says Chandani is prepared to take on the responsibility.

"When we set out to find someone to fill his role two years ago, we really wanted somebody who could build the company’s management team and to grow the company all around," Realini says.

Obopay's Mobile Money for Banks product enables branded mobile and online payment transactions.

Since Chandani's appointment as company president last May, the company doubled its year-over-year revenue, growing in each of the biggest markets it focuses on: the United States, India and Africa. Realini says mobile payments as an industry are experiencing a period of hyper-growth, and that Chandani recognizes much of the company's ability to grow is through partnerships and collaboration.

"I think (Chandani's) No. 1 charge is scale," Realini says. "We have four markets we’re in and we’re scaling those business and expanding into other geographies. It’s all about scaling the business right now."

She's sure that under Chandani the business will continue to grow.

"Everyone around him has confidence that he’s the right person for the job."