Phone Company Becomes a Bank
Using the mobile financial service provider Obopay, Nokia is poised to revolutionize the world of banking through its new service Nokia Money. It’s reportedly very easy to use, and will facilitate all kinds of financial transactions, such as bill paying. They are also building a large network of Nokia Money agents, where consumers can come in person to deposit money or withdraw cash from their accounts. Users will pay 25 cents to send any amount of money up to $1000, and receiving a payment is free. Right now, Obopay only works in the US and India, but more information will be released at Nokia World in September.
[Picture credit: textually.org]