Nokia Enters Into Mobile Payment Business, Too!

nokia_moneyAs the effects of mobile devices in our lives increase, companies position themselves in the market accordingly. The world’s leading mobile device producer Nokia has announced another innovation called “Nokia Money” right after announcing Booklet 3G. We are hoping to get more information about this service- which will first be in effect regionally in Asia and Africa 2010- from the Nokia World which that take place next week.

According to the announcement, the system, which could be initiated by having one’s bank account or credit card account saved, will be used by SMS or voice call. The system will work through Obopay the company that got $ 70m investment with the participation of Nokia and a few different investors last March.

Nokia Director Mary McDowell said “There are 4 billion cell phone users in the world and there are only 1.6 billion bank accounts. Accessing financial services through mobile devices is a worldwide demand and a strong opportunity”. This comment highlights the importance of mobile paying services.

Facebook and PayPal are companies that are working on mobile payment. Facebook partnered with Zong in mobile payment business while PayPal is trying to promote its own service on mobile devices. According to an info Inside Facebook got, Facebook has started testing mobile paying by a small alpha group. They are expected to put the service in effect in 2010.

In Turkey mobile paying are operated through phone operators. It only functions through Turkcell. One of Turkcell’s mobile payment partners Mobile Payment Inc. continues to give the same service to many internet companies. Turkcell’s competitors Vodafone and Avea do not seem to work on mobile paying.

Leave a Reply