Nokia today announced atMWC 2010with a Commercial Pilot Plan of Nokia Money, a Nokia Service which brings financial services to the consumers.
Teaming up with YES BANK, the pilot plan called Mobile Money Services will initiate in Pune and will then roll out to several other cities over the next 12 months.
“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 partnerin India to bring this service to market,” said Teppo Paavola, VP and general manager of Mobile Financial Services at Nokia.
Initially all the consumers will be able to transfer money, pay utility bills as well as recharge their prepaid SIM cards (SIM top-up) on their mobiles itself. Later on, this scheme can be used to pay merchants for goods and services purchased as well.