Mobile payment solutions provider Obopay has announced a new disbursement product for businesses. The company said its new offering lets companies disburse funds from their corporate accounts directly into payees' debit card accounts, bank accounts, onto a branded prepaid card or even to an email address, phone number or mobile wallet.

From a mobile payment standpoint the new product addresses a market not often included in mobile payments discussions: corporations. Other mobile payment topics like mobile POS or mobile at the point of sale may be sexier, but private businesses in the U.S. disburse more than $4 trillion in payroll alone. Obopay's tool gives them the ability to make those bulk disbursements to any number of account types — even through email addresses and mobile phone numbers, which allows the recipient to direct where funds go from a mobile device.

"Obopay offers the broadest range of disbursement and bulk payment solutions in the industry, enabling companies that need to issue high volumes of payments to disburse funds with speed, efficiency, security and scale," said Obopay VP of product marketing David Schwartz in the announcement.

Schwartz said that Obopay's status as a licensed money transmitter gives it the ability to offer partners unique services such as instant disbursements.

"Instant disbursements allow Obopay's partners to take advantage of real-time interbank payments across payment networks, through our debit network connections," Schwartz said. "Our disbursement offering also takes advantage of our deep experience as a prepaid card program manager for leading brands."

Founded in 2005, Obopay is headquartered in Redwood City, Calif. It has offices in Mumbai and Bengaluru in India and operations in Paris, Bogota and Singapore.

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