Nokia is a leading mobile phone manufacturer across the globe. The company launched the Mobile Money client service in India thru all its devices. It means, this service is not only available for high-end smartphones but also supports Nokia’s Series 40 feature phones and Series 30 entry level devices.
Nokia Mobile Money helps the unbanked and under-banked population through mobile phones. In-turn this will provide, safe and secure financial transactions while on the go. This service eliminates the need for intermediaries and empowering people and their businesses. Now, sending money is as simple as sending an SMS of making a call. The user need to identify the mode of transaction (SMS or GPRS or Wi-Fi) during the transaction.
Nokia joined hands with Yes Bank and Union Bank of India (UBI) to start the services in India. Nokia Mobile money is offered at a wide range of merchant outlets and business correspondents. Similarly, this service is offered at Union Bank (select branches) as Union Bank Money and YES Bank branches (selective branches) as Mobile money services.
The mobile money service allows the user to utilize the power of mobile and complete multiple financial service functions like payment of bills, money transfer, cash withdrawl from business correspondents, cash-out oultets, Mobile recharges and Automated Teller Machines (ATM). This mobile payment eco-system is already available in the market with various network providers. However, Nokia is planning to reach the masses by partnering with other merchant outlets and business correspondents (registered Nokia stores).
People with Nokia phones without the Mobile Money client, can simply visit a Nokia Money agent and get the application loaded on to their phones. They can also use the service through text messages, which do not require a client.
This smart way of managing your finances requires
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