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Wednesday, August 26, 2009

Nokia gets into the mobile money business

Nokia says it’ll be launching a mobile financial service next year. It’s called Nokia Money and it’s intended to let consumers send money to another person, pay merchants for goods and services, pay utility bills or top-up prepaid accounts. The company is also creating a wide of Nokia Money agents where consumers can deposit money or withdraw cash.

There’s no specific mention of the countries where Nokia Money will be offered; the company is emphasising the benefits of mobile banking in emerging markets but it’s also talking about its recent investment in US-based Obopay. More details are expected when the service is demonstrated next month at Nokia World 09. [Press release]

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