Mobile banking and payment service provider, Obopay has appointed Deepak Chandnani as CEO of the company. The existing CEO, Carol Realini will now hold the post of executive chairman of the company. Chandnani will be based in the corporate office of the company in Mumbai.

Chandnani earlier worked as CEO of Wire and Wireless in India and before that served as the Managing Director for NCR in India. He is an Economics graduate from St Stephens college, Delhi and an alumnus of IIM Ahmedabad.

"Over the last two years, Obopay has shaped and led the way for the mobile banking and payments space globally", said Realini, speaking on Chandnani's promotion. "Our revenue has doubled over last year and we expect it to do the same in 2011. Deepak has clearly demonstrated that he can scale the company as we continue our growth around the world," she added. "This promotion recognizes Deepak's immense contribution as well as fulfills a need for an expanded and experienced management team as we move forward."

"Naturally, I am very pleased with our growth this year," Chandnani commented. "But the mobile payments industry is not anywhere near its potential. At Obopay, we have laid the ground work through partnerships with market making global brands; an unparalleled understanding of local regulatory processes; and products that are meeting the demands in India, Africa and the U.S. Now, I am looking forward to leveraging these advantages into dramatic returns for the company."

"Carol and I have a strong partnership that complements each other's capabilities," Chandnani added. "This has resulted in the company's success as a pioneer serving the cause of financial inclusion as well as the goal of enhanced financial services across diverse global markets."