Nokia is launching "Nokia Money," a financial payment service for mobile phones that allows users to send money to another person, make a purchase or pay a bill using their handset.
The Finnish company said the new service will particularly benefit customers in rural areas and emerging economies -- since it works anywhere in the world and saves travel costs.
"For urban consumers used to online services, we are enabling services such as payment of utility bills, purchase of train and movie tickets, top-ups, all through their mobile phones," said Teppo Paavola, Nokia's Head of Corporate Business Development. "Nokia Money is simple to use, secure and available across different operator networks and on virtually any mobile phone."
The service will operate on the back of Obopay, a privately-owned mobile financial service company that Nokia invested in earlier this year.
