Obopay, a mobile banking and payment provider, was recently chosen by MIT’s Technology Review as one of the top 50 innovative companies in the world across sectors such as energy, computing, the Web, biomedicine, and materials. Obopay was conferred this honor under ‘Private Web Company’ category for bringing innovation in mobile payment services through its pioneering mobile payment service which is ubiquitous and highly secure.

With technology developed at its Bangalore based R&D centre, Obopay products are platform agnostic and global in nature. Other companies in ‘the Web’ category included names like Google, Twitter, IBM, Adobe amongst others.

The companies on MIT’s Technology Review list have been assessed on basis of their business model, deployment strategies, scalability of technologies as well as success rate. The editors of Technology Review analyzed companies over the last year that has demonstrated their superiority at inventing technology and using it for business growth as well as for transforming the lives of people. The companies identified were the ones with most promising technologies, whether they were giant corporations or fledgling startups with initial venture capital investments.