Obopay Inc., a mobile banking and payments provider, has promoted Deepak Chandnani to CEO from president, officials of the Redwood City, Calif.-based company recently reported. Chandnani succeeds Obopay founder and CEO Carol Realini. Realini was named executive chairman and will focus on corporate strategy.

Chandnani, who was named Obopay president last May, will be based in the company's corporate office in Mumbai, India. He led the firm's expansion into North and East Africa and positioned the business to expand into Europe.

Founded in 2005, Obopay's software enables mobile phone owners to transfer and receive funds with their handsets.