OBOPAY, the global financial technology company providing enterprise solutions for Telcos, BFSIs and companies with a dominant supply chain focus, has been awarded with the "Financial Institution of the Year" accolade at the eighth edition of Small and Emerging Business Awards 2019 held on 13th February, 2019 in New Delhi.
The organisation has been honored with the prestigious award for its innovative solutions in promoting digitization across all the industry segments and further promoting financial inclusion within the country, especially in tier 2 and 3 markets. The winners were chosen from a strong list of contenders.
Commenting on the esteemed awards win, Shailendra Naidu, CEO, OBOPAY, said, "OBOPAY has been working relentlessly to raise the bar of the financial technology industry through its innovative solutions in mobile payment and technology, distribution management system, consulting services and many other such solutions."
Naidu added, "The "Financial Institution of the Year" award is a recognition of our financial expertise and our immense contribution towards digitization and financial inclusion, especially in a market like India where there are umpteen challenges in making digitization a reality. The accolade will further inspire all of us at OBOPAY to deliver new-age fintech solutions resulting in digitization of Indian economy."
With over fifty notable "Small Business Awards" categories to choose from, Small Business Awards is India's most prestigious honor that recognizes and celebrates the BEST Small to Mid-Sized Business Brands and Visionaries. With more than 1000 submissions in 50 categories, the show is nation's most premier and most successful business-to-business networking event. The evaluation criteria were rigorous and the final selection was made by a panel of industry experts.
Obopay is present in 4 of the top 5 mobile money markets in the world - "Unparalleled Experience". The platform handles over 11% of global mobile money transactions everyday - "Highly Scalable". The company has processed over 1 billion transactions a year in one of our large deployments - "Dependable Solution". The company provides best-in- class technology by providing a unified, robust and secure interface for all payment solution needs.
Recently, the company launched a new generation pre-payment instrument (OBOPAY card) in partnership with Federal Bank and Mastercard. The OBOPAY card is built as a one-stop solution that addresses all the needs of the enterprise and users seamlessly and can be used at over three million Mastercard outlets in India. The OBOPAY card will offer multi-wallet facility facilitating dedicated payments and allocation of money for varied user needs like withdrawals, shopping, groceries and food.
In 2017, the company secured a license for Prepaid Payment Instrument (PPI) from the Reserve Bank of India to operate a semi-closed loop wallet in the country. The company also launched a distribution management system, an end to end state of the art SaaS solution for the entire distribution channel of an organization. The distribution management system has been deployed for large Distribution / FMCG companies along with some mid-scale firms.
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