Nokia trials its Nokia Money mobile payment service in India

Nokia is piloting its Nokia Money mobile financial service in India under the agreement with a largest local bank Yes Bank. Introduced in August Nokia Money financial service is based on the mobile payment platform from Obopay.

As a part of the commercial pilot Yes Bank's Mobile Money Services will allow mobile users to transfer money to another person by using the person's mobile phone number and also pay utility bills. The service is being tested in the city of Pune in western India.

Mobile payment systems are already in place in India from financial institutions such as Citibank and some local Indian banks.