Nokia announces mobile payment service Nokia Money

Nokia has announced a new mobile payment service, under the name Nokia Money
The service is targeted mainly at countries with a limited bank infrastructure. Argumenting that there are 4 billion mobile phones worldwide, compared to only 1,6 billion bank accounts, Nokia considers the mobile phone as the perfect device to facilitate a payment or a money transfer. 

Nokia will be using the tchnology of Obopay, a company they acquired recently.   To use the Nokia Money service, one must have an Obopay account on which money has been transferred.

The service will be available in certain markets early 2010.

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  • Comments (2)
  1. It is an idea whose time has already come.I hope the system of security built in is foolproof.Once the user’s confidence is strengthened, the services are bound to be popular.

  2. Say what you will, Nokia are still top of their game. I’d prefer a Nokia to an Iphone anyday 🙂

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