mChek bags the prestigious Red Herring 100 Asia award

11 December 2008

Bangalore

~ The award acknowledges the top 100 innovative companies across Asia ~

mChek (www.mchek.com), leading mobile payment solutions provider, has been awarded the prestigious Red Herring 100 Asia 2008 Award for excellence in technology and innovation. The award aims to recognize companies that have built breakthrough innovation into the fabric of their business and developed products, processes or technologies to accomplish the business objectives. mChek is one of the few Indian companies that has been honoured with this prestigious award. The Red Herring 100 Asia 2008 Award is conferred on top 100 companies across the Asia-Pacific regions that thrive on innovation and strongly define the important role of technology in Asia’s economy and through the world.

On winning the prestigious award, Mr. Sanjay Swamy, CEO, mChek thanked the selection committee at Red Herring and said, “The award is significant as it recognizes the strength of our expertise and innovation in m-commerce technology. Keeping constant innovation and technology advancement at the centre of our business strategies, we have reinforced our positioning in the Indian market and intend to enhance our global footprint.”

The Red Herring 100 Asia is an exclusive annual award ceremony honouring 100 cutting-edge private technology companies from across the Asia-Pacific region including China, India, Japan, Singapore, South Korea, Australia and Vietnam. Each company is evaluated both on quantitative and qualitative criteria such as financial performance, technology innovation, quality of management, execution of strategy, and integration into their ecosystem. Start-up companies from over 16 countries across Asia-Pacific region are evaluated on these parameters and only the 100 best find their place in this prestigious list.

“Our winners and Finalists demonstrate that Asia is increasingly becoming a leader in innovation, contrary to common stereotypes," said Mr. Joel Dreyfuss, Editor-in-chief of Red Herring. "It was tough to choose just the top 100 finalists from such a large list of excellent contenders, and we are very happy with the quality of the companies we selected as finalists."

“This award is a recognition of the exceptional product, team and market traction realized by mChek, and reiterates our decision to back the mChek team in their endeavor to bring cashless transactions to the masses,” said Mr. Tim Draper, Managing Partner, Draper Fisher Jurvetson. “We congratulate the mChek team on winning the Red Herring Asia 100 award and look forward to helping build mChek into a world class company”.

At present mChek is providing m-commerce solutions to the consumer base of industry majors like Airtel, VISA, ICICI Bank, HDFC Bank, State Bank of India and Corporation Bank. Internationally, mChek has also tied up with Dialog Telekom and NDB Bank, in Sri Lanka, enabling secure payments ranging from utility bills and mobile banking.

About mChek

Bangalore-based mChek (www.mchek.com) provides patent-pending, mobile-based, security and payment services enabling users to transact through their mobiles for wide-ranging day-to-day requirements including payment of utility bills and insurance policies, movie & travel ticketing, prepaid recharge and post-paid bill payment. Consumers can sign up at www.mchek.com or by sending a sms ‘AIRTEL’ to 543219 (toll-free) from their Airtel phones.

mChek’s Certifications

ISO 27001
PCI-DSS 1.2

mChek’s Awards

Award for “Best Billing and Customer Care Solution” from the GSM Association at the 2008 Mobile World Congress held at Barcelona.

About Red Herring:

Red Herring is a global media company uniting the world’s best high technology innovators, venture investors and business decision makers in a variety of forums: a leading innovation magazine; an online daily technology news service; technology research, and major events for technology leaders around the globe. Red Herring provides an insider’s access to the global innovation economy, featuring unparalleled insights on the emerging technologies driving the economy. For more information, visit www.redherring.com.

For more information, visit http://www.mchek.com or write to This e-mail address is being protected from spambots, you need JavaScript enabled to view it or call +91-80-41795900.