Home > Cellphone, Innovation, Nokia, Technology > Nokia to launch ‘Pay-by-phone’ service

Nokia to launch ‘Pay-by-phone’ service

“The world’s top mobile phone maker Nokia said on Wednesday it would launch a mobile financial service next year targeting consumers, mainly in emerging markets, with a phone but no banking account.

Nokia said its Nokia Money service was based on the mobile payment platform of Obopay, a privately-owned firm that Nokia invested in earlier this year, and it is now building up a network of agents.

Obopay, which uses text messaging and mobile internet access, charges users a fee to send money or to top up their accounts.”

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