Information Madness

Nokia, the largest mobile phone manufacturer has announced its new mobile payment facility in India. The company has joined hands with YES Bank for this purpose.

Nokia has launched this service in Pune, which is one of the metropolitan city in India for a trial purpose . This facility is to be called as Mobile Money Services by YES Bank.

With the help of this mobile money service , people chan transfer their money from one person to another by using their mobile phone number. In the future the company also plans to bring payments for goods and services too. Currently the bank has 132 fully operational branches across the country.

At the launch function Teppo Paavola, VP and GM of Mobile Financial Services at Nokia said,” 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.”