Nokia Money: Mobile Payment service to launch in India
Nokia Money is a mobile financial service which facilitates consumers to pay or transfer money to another person simply by using his mobile phone number as well as to pay merchants for goods and services, pay their utility bills, or recharge prepaid SIM cards (SIM top-up). And now, it will be launched in India which will be called Mobile Money Services by YES Bank.
Pune, Maharashtra will be the first city to experience this service in India. Transactions can be done over SMS, IVR, WAP, JAVA and FIRE. The service will be offered over a Mobile Payment platform developed by Obopay which is already partnering Yes bank.
“The Nokia Money initiative based on Obopay’s platform is initially targeted at growth markets and designed to work in partnership with multiple network operators and banks, involving distributors and merchants in a dynamic open ecosystem to seamlessly provide the new services. YES BANK is our first partner in India to bring this service to market.” said General Manager of Nokia Financial services on Nokia Conversations.
For many of those users, their mobile phone is their only link to the Internet because they do not have PCs, he said. People who don’t have credit or debit cards will now be able to transact online with the new service.
About the Author (Author Profile)
Rohit Langde is editor-in-chief and owner of Blogsolute. He is Born-Geek and Technology Enthusiast. Being a blogger, he is also Mechanical Engineer who believes in simple Living. You can Follow @maholSubscribe
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Brian (3)
himanshu (3)
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adiel (2)
Amazingly well written article.
Just need to clarify one thing for this does a person need to have account in Axis bank or its open for all?
No, at the moment, they have tied up with YES Bank and may partner with other national banks too if they get a good response.
Wat ab security. If your cell phone is stolen does it mean someone else can use up all the money.
Astounding article. I had goosebumps while reading it. I was literally shivering with joy at the awesomeness of this article.
I have an a/c with Nokia Mobile money Application & ATM Card, but the issue is very too download application, because now i am getting ERROR “Conflicting application”