By
Poonam Singhal on 22 February, 2010, 2:38 pm
India has been one of the fastest growing mobile markets in the world. Nokia has been the market leader in mobile handsets, having a share of 57% in the Indian handset marker. So, cash in this popularity, Nokia is set to launch Mobile Money in India.
Under this service, mobile users can send and receive money instantly from their cell phone. They can also pay bills, transfer money to your friends/spouse/relatives & recharge your pre-paid SIM cards instantly.
For this, Nokia has tied up with Yes Bank and Obopay, and the pilot is one going at Pune. So you need to be in Pune & have an account with Yes Bank, if you want to be a part of the polit. If you can’t do that, I think the wait will not be too long, for this Mobile Money service to start all over India & with other banks too. This will be a boon to the rural population, which still banks the traditional way, due to lack of proper internet facilities in the rural areas. 
Obopay is the first mobile payment service in India. It provides a platform where you can use your mobile for online money transactions. You can do this on the mobile internet explorer or get an Obopay application for it.
Getting this service, would mean that we will no longer need a bank branch, or internet banking services, when we want to do a money transfer. Gone are the days of visting banks for day-to-day financial affairs, since we all do it today, sitting at our desk, through internet banking. Soon, these days would also be gone, and you can do manage your bank, when you are on the go, travelling, eating, walking, and what not.
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