Bloomberg | March 21, 2011 | Vidya Root
Nokia Oyj (NOK1V), the world’s biggest maker of mobile phones, has started supplying mobile banking services for a Union Bank of India offering aimed at phone customers who don’t have bank accounts.
The Union Bank Money Powered by Nokia service is available in Gurgaon and will be released nationwide over the next few months, the Mumbai-based bank said in a statement.
Nokia, based in Espoo, Finland, already sells mobile banking in India, working with Mumbai-based Yes Bank. Like the Union Bank service, the Yes Bank offering integrates small retailers that sell Nokia phones into bank networks so customers can deposit cash there and then pay bills and transfer money using their handsets.
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