Nokia To Launch Mobile Payment Facility “Nokia Money”

Nokia Mobile Payment Facility Nokia MoneyNokia the leading mobile phone maker announced the launch of Nokia Money the mobile Payment services enabling consumers to pay through direct from their Nokia mobile phones in India. To offer the Mobile Payment service the company tie-up with Yes Bank. The Nokia Money Services will allow mobile phone users to transfer money to another person by using the person’s mobile phone number and also top up the prepaid card or pay utility bills.

As a commercial pilot project initially the services will be launched in Pune (Maharashtra) and will also be available through Nokia’s retail network. 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.

According to the Gerhard Romen, Director for Alliances, “Nokia Money is being tested in India  because it has 1.2 billion people and over 500 million mobile subscribers. 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 on line with the new service”.

This Article Was Written By: Sanjay Bafna

Sanjay Bafna - National Editor (Telecom and Mobile Phone)

Sanjay Bafna is an entrepreneur and National Editor at TelecomTALK covering Mobile Operators, 3G, Broadband, 4G, LTE, Telecom Policies & Regulations and Mobile Phones. He is well known Telecom and Mobile Analyst, Love Tea and Chocolates.

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  • Santosh kangle March 22, 2010 2:08 pm, 2:08 PM

    Is It working in every teretory, Is It Accseptable Rural Areas.. If it Accseptable In Rural Than We Will say “nokia Transforing money”

  • Parshiv March 21, 2010 11:14 pm, 11:14 PM

    Plse focus on sale not dis type of services no one use dis

  • anandh February 19, 2010 5:54 am, 5:54 AM

    does every1 need yes bank account to access this facility?

  • Prasath J February 18, 2010 10:31 pm, 10:31 PM

    The tie-up with YesBank means only YesBank customers can get this facility???

    Transactions can be done over SMS, IVR, WAP, JAVA and FIRE.

    How transaction can be done through FIRE??? :D

  • Agnivo February 18, 2010 5:42 pm, 5:42 PM

    Remember the !dea green campaign ad? Seems like things are moving…

  • rajiev February 18, 2010 12:26 pm, 12:26 PM

    is this is lookline to itzcash

  • EmmKay February 18, 2010 12:20 pm, 12:20 PM

    When this service is going to launch….

  • SVSMANI February 18, 2010 11:51 am, 11:51 AM

    good service, let us wait & watch for paperless technology whether our shoppers will accept this in villages.


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