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Obopay launches mobile money transfer service in India

Obopay has launched its instant money transfer service in India through an alliance between its subsidiary Obopay India and Yes Bank.

Under the deal, Yes Bank customers will be able to transfer money to and from any mobile phone number with Obopay’s mobile application, text message or mobile web. They can withdraw cash received using their Yes Bank debit card.

Yes Bank customers can sign up for Obopay through forms available at the bank’s branches and ATMs in Mumbai and the National Capital Region.

Aditya Menon, executive director of Obopay India, said: Together, Obopay and Yes Bank give Indian mobile consumers power over their money. This service is built for today’s mobile lifestyle, making funds available to consumers anytime, anywhere.