Nokia plans to launch m-Banking service

Nokia is planning to soon roll out its financial and banking services in the country under the banner of “Nokia Money”. The company has initiated talks with six banks in India who will be responsible for cash management and handling banking regulatory issues. Nokai will offer an universal platform where the mobile phone can be a medium for banking, international remittance, payment of utility bills, pay merchants for goods and services. “ India figures amongst the top 20 countries where we plan to roll out Nokia money in the first phase. While at present Indian banks may have a mobile banking platform , it is limited to single bank and telecom operator. What we plan to offer is a full fledged service which will bring together all banks, operators and even handsets of other brands,” said Teppo Paavola, Global Head, Nokia Money Services.