NEW DELHI, INDIA: mChek, a mobile payment solutions provider, had been awarded Red Herring 100 Asia 2008 Award for excellence in technology and innovation.

The award aims to recognise companies that have built breakthrough innovation into the fabric of their business and developed products, processes or technologies to accomplish the business objectives.

Sanjay Swamy, CEO, mChek, said, “The award is significant as it recognises 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.”

Tim Draper, Managing Partner, Draper Fisher Jurvetson, said: “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."

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.