Nokia mobile money was announced globally last year in August. This announcement was made post its investment in Obopay around April for about 70 million dollars. Now after 6 months of announcing Mobile Money Nokia has announced its pilot launch for the Indian market.
For the Indian market nokia has tied up with YES Bank. The pilot scheme will let people transfer money to another person simply by using the person’s mobile phone number. They’ll also be able to pay utility bills and top up SIM cards. In the future there will also be the facility to pay for goods and services.
Watch the video below which announces the pilot:
httpv://www.youtube.com/watch?v=mTybSIcgwXI
The above launch coincides with the impending launch of ewallets in India. Call me an optimist if you will be the more we see alternate payments especially P2P transfers via mobile and online increasing the more we shall see the rise of digital commerce in India. Which if insights have to be believed would lead to a rise in spends on the digital space as well.
