Wednesday, August 26, 2009

Nokia Launches New "Nokia Money" Mobile Banking Service

Nokia today introduced a new mobile service that allows anyone with a Nokia phone to send and receive money with a text message or voice call. Dubbed Nokia Money, the new financial service is aimed at the the millions of people who have a Nokia device and have limited or restricted access to banks or other financial institutions.

The Nokia Money service will be operated in cooperation with Obopay, a leader in developing global mobile payment solutions, which Nokia invested in earlier this year. The service is based on Obopay's mobile payment platform, with unique and newly developed mobile elements. Nokia intends the service to be open and interoperable with other payment services as well.

"Obopay shares Nokia's vision for bringing mobile financial services to millions of people worldwide. We're excited that Nokia has chosen Obopay's platform. Nokia's leading market position, strong brand recognition and global distribution channel, using the Obopay platform with uniquely developed mobile elements, means the Nokia Money service is well positioned to bring the next generation of mobile payment services to the world," said Carol Realini, Founder and CEO of Obopay.

The Nokia Money service will be shown for the first time at Nokia World on the 2nd and 3rd of September 2009 in Stuttgart, Germany, and it is planned to be rolled out gradually to selected markets, beginning in early 2010.

For more details on the new Nokia Money service checout the full Nokia press release - "Nokia brings mobile financial services to millions"

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