Latest in Mobile

Image credit:

Nokia Money wants some of what PayPal's having

Chris Ziegler
August 26, 2009
Share
Tweet
Share

Sponsored Links

A healthy percentage of Nokia's revenue comes from emerging markets, and the company goes to great lengths to fill out the very bottom rungs of its lineup with devices to satisfy seemingly every need of every demographic -- built-in flashlights, segmented contact lists for phones shared among family members, the list goes on -- and now the company's tackling another need by offering rudimentary banking and money transfer services by way of the handset. Noting that of the four billion cellphones in the world there are only 1.6 billion bank accounts, Nokia's so-called Nokia Money service will bring electronic money management to some areas of the world for the first time -- a customer need only know the phone number of the intended recipient to send a payment. Powered by mobile money transfer specialist Obopay, Nokia Money's going to be shown at Nokia World next week on its way to a rollout in select markets early next year.

All products recommended by Engadget are selected by our editorial team, independent of our parent company. Some of our stories include affiliate links. If you buy something through one of these links, we may earn an affiliate commission.
Share
Tweet
Share

Popular on Engadget

The redesigned Tesla Model S interior swaps in a steering yoke | Engadget

The redesigned Tesla Model S interior swaps in a steering yoke | Engadget

View
Facebook predicts ‘uncertainty' in 2021, blames upcoming iOS 14 update

Facebook predicts ‘uncertainty' in 2021, blames upcoming iOS 14 update

View
US arrests far-right Twitter troll for 2016 election interference

US arrests far-right Twitter troll for 2016 election interference

View
Amazon’s motorized Echo Show 10 goes on sale February 25th

Amazon’s motorized Echo Show 10 goes on sale February 25th

View
Discord bans Reddit’s r/WallStreetBets  | Engadget

Discord bans Reddit’s r/WallStreetBets | Engadget

View

From around the web

Page 1Page 1ear iconeye iconFill 23text filevr