Nokia money launched in India with Yes Bank

As promised before, Nokia has launched a dedicated finance (money management) business with a pilot project being tested currently in the city of Pune, India. At present Yes Bank is acting as the banking partner through ‘Mobile money services’ platform in association with Obopay, a mobile money management firm.

What can Nokia Money do?

With Nokia money, you can send money, securely, to your friends and family easily from your mobile, pay all your utility bills, recharge your prepaid mobile, check your bank balance and get a mini statement, use your mobile as a credit card to purchase goods from merchants, pay off your loans, easily add funds to your mobile and a lot more.

Note that Nokia money still comes under the RBI’s mobile banking radar and same rules applies to this too, see SBI mobile banking for example.

Nokia Money features

In Nokia money, there are no registration charges, no annual fees, no minimum balance limit, a low cash loading amount of Rs.100.

How to start using Nokia Money?

To get started, you have to visit the nearest Yes bank branch or Nokia agents and register for the service. There are 2 plans to choose from, one which has a maximum balance limit of Rs.10000 (easy pay) and other with Rs.50000 (easy send).

With easy send plan, you can withdraw cash, send money, pay using your mobile at merchant stores which you cannot so with easy pay plan.

You can choose to operate Nokia Money using WAP, SMS or IVR system. Get your mPIN from the agent or Yes bank branch and you’re ready to use Nokia Money.

There are lot of similarities between Nokia Money and general mobile banking applications provided by Individual banks. If you have an account in any State Bank group branch, you can see this mobile banking service of State bank group.

Visitors who read this article also read:

1. Nokia Mobile Money comes to more phonesNokia has today announced that its’ Mobile Money platform will be expanded to wide range of Nokia phones, not just...
2. Transferring money using State Bank ATM cardYou don’t have to go to your State Bank branch to transfer funds (money) to your friend of relative, nor...
3. Nokia India Interest free EMI OffersLike a Nokia phone but can’t buy it because of its price tag? Well, this exclusive EMI offer is just...
4. List of Nokia 3G phones in IndiaWith the 3G auctions going on currently it’s only a matter of time that India’s will experience high speed mobile...
5. Post Office starts MoneyGram transfer service: Receive money from USAIt’s not that difficult to send or receive money to/from overseas bank accounts these days. If you are tech savvy,...
6. Soon, check bank account balance using mobile USSD for freeSure almost all banks’ these days have a mobile banking application for you to check your balance at any time...