ID WORLD International Congress: Probir Roy

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Probir Roy

Co-founder & Director – PayMate

Speaks at ID WORLD on Future of Mobile

Probir Roy is co-founder & promoter- director of PayMate, where he continues to lay the foundation of mobile payments and the commerce ecosystem in the region.

From the onset Probir has exhibited the pioneer spirit to ‘go where no one has been before ‘ and embodies new India’s homespun digital entrepreneurial spirit.

As a young man working at an international atomic energy agency in Vienna, he was offered his first assignment by Dr Raja Ramanna. He put his entrepreneurial skills to test in his first daunting assignment: the task to automate the techno- commercial functioning of all 12 civilian nuclear power projects and stations in the country, which he did with success as head of the information systems division , nuclear power corporation..

His move to Star TV was yet another challenge in applying technology in another field – the fast paced world of media. Here too he was instrumental in spearheading the company’s early foray into new media by laying the foundations for its various internet plays, interactive TV and DHT operations, as vice president IT, and member of its executive committee.

So when euro rscg interactive, the world’s no.1 new media company was looking to start its India operations, it picked Probir as its very first coo and also made him their chief technology of the parent co – euro rscg adv. India & middle east as well as member of its worldwide IT Board. In a short time he was able to make a mark and build the credentials of its India & middle east operations as a premier interactive media co. These earned him the label of ‘new media guru ‘.

Probir has always been on the forefront of the next big thing in technology and hence it was not surprising that he chose to move into something of his own and become one of the earliest set of players in the emerging mobility vas space. He co-founded Coruscant Tec (2003), and PayMate (2006). Both companies are in the burgeoning & fast paced mobile value added services space. Today PayMate is one of India’s own totally indigenous successful start ups and one of leading mobile payment companies in the World with operations in India, Nepal, Sri lanka, Middle East & USA.

Both companies were awarded the prestigious RED HERRING TOP 100 Award for promising tech start up companies in 2006 & 2007 respectively. PayMate was also selected as one of the TOP 10 COOL COMPANIES by Business Today in 2007. Coruscant Tec was successfully acquired by Mukta Arts in 2008 thus leaving him to concentrate on the Mobile Commerce business.

In addition to Probir’s prolific professional commitments, he is also immersed in a host of additional activities. He is vice chairman, internet & mobile technical committee, (media research users council); expert member of the indian merchants chamber’s; national technology committee, and visiting faculty at ISB, Hyderabad, IIT Kanpur and SITM, Pune. He also writes on IT, internet & mobile for leading business dailies viz business standard and financial express

“CORPORATE CASH MANAGEMENT SERVICES USING MOBILE MONEY FOR THE B2B MARKET”

The ecommerce market in India is estimated as a US$ 10 billion market (2011). Non travel e commerce constitutes around 25 percent of this market.This is currently essentially B2c market space. For the B2B market place – the problem is how to move transactions from paper (cash and cheque) to electronic.The FMCG cos have a cash management and logistics cost of anywhere between 5-20 percent, and are looking at ways to minimize this cost. One way is using a simple Mobile phones to allow initiate, authenticate, confirm, validate and fulfill a payment between a cos vendor/ agents/dealer and supplier/wholeseller/manufacturer. The PayMate solution Cashman – allows a large FMCG to connect with its wholesalers and retailers network to allow its agents to realize payments without necessarily involving cash for such settlements. A virtual prepaid wallet is used for such transactions to allow for real time credit/debit. A virtual account will be maintained by the Cos Bank.This allows the FMCG company to save on its total logistics cost at the back end.

 

Speaking on November 3


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