Nokia Announces Nokia Money- Its Own Mobile Banking Service

Nokia has just introduced its new mobile financial services called as Nokia Money with a primary goal to offer access to basic financial services for all the mobile phone users. This provides every user with the possibility of using just a mobile handset to manage all your finances and also the ability to make necessary payments using only their mobile handset. Nokia believes that this service will be beneficial for many users of mobile phones and will become their first service, finance manager.

image via intomobile

Nokia also said that Nokia Money has been designed in such a way that it works as easy and simple, as making a voice call or sending an SMS. This service will greatly benefit both the rural consumers as well as the urban consumers since it will enable users to send money to any another person just by using that person’s mobile phone number, making a payment for various goods and services, paying up their utility bills, recharging their prepaid SIM cards via top-ups and more, through their mobile phones only.

Nokia has promised that Nokia Money will be available 24 hours a day from anywhere in the world, which means a definite save of time and transport costs to users. Nokia has also announced that it is going to create an extensive network of financial agents, where users can deposit or withdraw cash from their accounts.

Nokia Money will team up with Obopay, a leading mobile payment provider in which Nokia has invested significant amount of money earlier this year, Furthermore, this service won’t just be Nokia exclusive but will also be available on Different Other Mobile phones and various other carriers.

Nokia Money service will be demo-ed initially at the Nokia World event to be held on the 2nd and 3rd of September 2009 and then gradually roll out to selected markets, in early 2010.

Nokia’s step into the financial world with Nokia Money seems completely logical at this time since there are more than 4 billion mobile phone users and only 1.6 billion bank accounts worldwide at present.

What do you think? Do Pass on your comments.

Author: Vikas SN

A Complete Mobile freak. Regularly Blogs about Mobiles at and Tweets as @tsuvik