Nokia Money marked the entry of the handset maker into the financial services market. There are more mobile phones in this world than bank accounts. Users might have easy access to a mobile phone but not to a bank account. Nokia Money aims to address this problem and give users the possibility to carry financial transactions using just a mobile phone. Consumers can pay utility bills , pay for services and send money to each other using just a mobile and a mobile number. It literally can work on any mobile phone. Obopay is the company which has teamed up with Nokia to provide this service. Watch the Video Demo of Nokia money showcased at Stuttgart , Germany last week.
We really wish such services come to the Indian market soon. We see a huge potential for a mobile payment service in India given Nokia’s brand equity. Only a mass market player like Nokia can tackle the fears which hinder the adoption of m-commerce.