Nokia mobile money client launched

Mobile money is a very good concept that lets users stay in sync with their funds using a cellphone. And now, Finnish cellphone manufacturer Nokia has launched the Mobile Money client for Nokia cellphones in India.

The best part about this service however is that it’s not limited to just smartphones or any particular handset, but a wide range of Nokia handsets will be supported, which extends all the way upto budget ranged cellphones (Series 30). This service is compatible with Nokia’s touchscreen phones, as well as QWERTY plus touchscreen (Touch and Type) handsets.

The motive of this service is to provide Nokia users of rural locations with access to their bank account and empower them with the ability to conduct financial transactions with their respective Nokia cellphones. Nokia has partnered with some banks to provide this service to its customers. Entities like Yes Bank, Obopay, Union Bank of India among others are registered with the Nokia Mobile Money service.

With the Mobile Money Client, users can access a wide range of services from their fingertips. The available services include payment of bills which can be done with ease, transfer of money from one account to the other, ability to purchase prepaid top up cards for the user’s cellphone device, instant access to account details which will let the user check previous transaction and the financial history of the registered account, ability to withdraw cash from Nokia outlets or ATMs.

Well, we think this service needs some encouragement from government to go a long way in helping villagers and small business holders to keep track of their transactions without having to go personally to the bank.

Safety concerns are raised with mobile banking facilities, and hence users have to be cautious. Nokia has announced that most cellphones (both high and low end) will get this client to aid them with better and more convenient banking facilities.