MWC 2010: Nokia, Yes bank launch mobile money transfer platform

Published on Feb 17, 2010

Nokia has teamed up with Yes Bank to launch a live commercial pilot scheme of Nokia Money in India

Published on Mar 17, 2011

Tweet

With the launch of Nokia Money pilot scheme, the people can easily transfer money to another person simply by using the person's mobile number. The test debut of Nokia Money pilot scheme will go live first in Pune, India. The mobile money transfer services will be known by the name of Mobile Money Services by Yes Bank.Niklas Savander, executive vice-president, services at Nokia, told a press conference that the pilot project has been launched in Pune last week in partnership with Yes Bank and Obopay, which runs mobile payments platform. However, the time of the commercial launch of the project has not been disclosed officially. Teppo Paavola, VP and general manager of Mobile Financial Services at Nokia says, "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."With this mobile payment facility, users will be able to pay utility bills and top up SIM cards. However, the company plans to float more offerings to pay for goods and services in near future. 

 

More Stuff >>