Business. Leadership. Innovation.
Sam Pitroda has spent almost 50 years in the telecommunication business.
1965 Electron Paramagnetic Resonance Lab at IIT Chicago, Oak Electric: making television tuners
Victoreen Instruments: Manufacturer of nuclear instrumentation
1966 GTE: Digital telephone switching systems PABX and central offices
- 1974 Wescom Switching: Manufacturer of digital telecommunication products
- 1975 Electronic Diary: First handheld device and US patent
- 1979 MTI: Manufacturing of hybrid circuits and printed circuit board assembly
- 1981 Ionics: Manufacturing of printed circuit boards
- 1981 Martek: Software for manufacturing, material management, MRP and planning
- 1984 Emnet: Home security system and networks
- 1994 WorldTel: Investment bank to fund telecom in developing countries established by International Telecom Union (ITU)- oldest United Nations (UN) organization
- 1998 C-SAM, Inc.: Mobile wallet platform and services
In 1995, Sam Pitroda was named WorldTel's first Chairman. WorldTel's mission was to support privately funded telecom projects in nations where the need was greatest, in hopes to "break the vicious cycle that exists in developing countries."
Commerce, Secure and Mobile
"The mobile wallet will change the concept of money as we have understood it for years.” – Sam Pitroda
C-SAM envisions a world where every transaction, from making a mortgage payment to buying groceries, from paying a cabby to buying a movie ticket, from paying for parking to buying goods off vending machines, from sending personal health information to getting a diagnostic test-kit, and from filing an expense report to voting for representatives in public office, is done by clicking a few buttons on your mobile phones.
C-SAM has been tirelessly pursuing this vision for nearly 20 years. C-SAM pioneered the concept of the Digital Wallet in the early 90’s, recognizing very early that to deliver a true leather wallet metaphor on mobile phones it was imperative that existing providers come together on a common infrastructure platform, leveraging the advantages of the Internet and mobility, but yet maintaining their existing branding and risk management practices.
Essential to C-SAM’s vision are the underlying needs of consumers – an easy to use interface, ability to securely transact in the virtual and real world, a wide range of personalized applications, and the ability to get various profile driven value added services based on static preferences and dynamic behavior.
In 2013, C-SAM was sold to MasterCard.