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+ - Nokia Launches Pay-by-Phone Service

Submitted by adeelarshad82
adeelarshad82 writes "The world's top mobile phone maker Nokia said it would launch a mobile financial service next year targeting consumers, mainly in emerging markets, with a phone but no banking account. Nokia's Money service was based on the mobile payment platform of Obopay, a privately-owned firm that Nokia invested in earlier this year, and it is now building up a network of agents. Obopay, which uses text messaging and mobile internet access, charges users a fee to send money or to top up their accounts."
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Nokia Launches Pay-by-Phone Service

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"It's in process": So wrapped up in red tape that the situation is almost hopeless.

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