India is, according to Obopay, adding 8 million mobile customers a month — to a market that’s already got around 250 million mobile users (compared to roughly 257 million in America). So it makes sense for Obopay to head to that area. It’s not a tip-toe strategy either. They’ve got together with YES BANK (the bank, I imagine, that likes to say ‘Yes’?) to deliver a fully integrated offering. Any customer can ‘securely and instantly’ transfer money to and from any mobile phone number via Obopay’s mobile application, text message or the mobile web. Genius. What’s more, any YES BANK customers can withdraw cash that they’ve been sent via Obopay using their debit card.
An excellent move. I’ll see if I can connect with Obopay at CTIA and get some more gossip.