Nokia Money is the next option for India-based fans of the Finnish brand who would like to keep their pockets physically empty while shopping. The mobile wallet service utilizes a simple SMS service to enable transactions by means of a Nokia handset.
The service comes in handy when users want to carry on with regular financial activities like making payments for utility bills, top-ups, ticket bookings, insurance premiums, and more. The service seems simple to activate as well as use and follows RBI guidelines. Also, it does not require any KYC documentation.
Customers can visit their nearest Nokia retail store, register themselves, and deposit cash to be used from the virtual wallet. This will enable them to enjoy the service without having to worry about carrying money along with them.
“There is a need for alternate financial payment instruments in India and the mobile handset offers a perfect mass platform to deliver these. Transaction costs on mobile devices are significantly lower. Nokia brings multiple offerings and is developing an open ecosystem to deliver mobile money services to users depending on their need,” conveyed Gary Singh, General Manager, Nokia Mobile Payment Services.
This service can be accessed from almost any Nokia handset, irrespective of banking networks or mobile service providers. The company has also announced plans to pre-load the utility across a wide range of devices. Other than SMS, the application will be active through GPRS/3G and Wi-Fi as well.
The Nokia Money mobile wallet allows for zero balance and can be activated on almost all existing devices in India by the manufacturer.