Nokia has just started in the first pilot of Nokia Money in Pune, India in collaboration with YES BANK and the name they’ve given the project is Mobile Money Service. Nokia also plans to roll out Nokia Money in all major Indian cities within the next months.
As of now the pilot is limited to allowing people to easily transfer money to another person by using the person’s mobile phone number and also pay utility bills and top up prepaid SIM cards. But you can soon look forward to paying for goods and services with your Nokia device.
The Nokia Money application is a small java client that works with SMS, so you need not have a high end data capable device for this to work. Here is a video that will tell you a little more about Nokia Money:
[via: Nokia Conversations]