Union Bank of India and Nokia Roll Out Mobile Payments.

| March 18, 2011 | 23 Replies

Union Bank of India and Nokia has Launched ‘Union Bank Money powered by Nokia’ service across India, starting with the National Capital Region.

This is currently already available in Guragaon and coming soon to Delhi, Faridabad and Noida, followed by a nationwide roll-out over the next few months.

The service is intended for folks who don’t have a bank account. Using mobile phones, new consumers can have access to financial services, such as:

  • enabling transfer of money to other individuals,
  • cash withdrawals from  business correspondents cash outlets, e.g. Nokia Stores
  • cash withdrawals from  ATM
  • pay utility bills
  • top up/load/recharge prepaid/pay and go SIM cards

via MoneyLife

I’d like mobile-money through my bank. Top that off with NFC-goodness.

Cheers Amey for the tip!

Category: Nokia

About the Author ()

Hey, thanks for reading my post. My name is Jay and I'm a medical student at the University of Manchester. When I can, I blog here at mynokiablog.com and tweet now and again @jaymontano. We also have a twitter and facebook accounts @mynokiablog and  Facebook.com/mynokiablog. Check out the tips, guides and rules for commenting >>click<< Contact us at tips(@)mynokiablog.com or email me directly on jay[at]mynokiablog.com

Comments (23)

Trackback URL | Comments RSS Feed

  1. Viipottaja says:

    Fantastic! I work on economic development, and things like this can make a huge impact in poorer people’s livelihoods.

  2. SaDudE says:

    I guess I am missing something, if they don’t have a bank account where is the money coming from?

    Are they then having an account accessible via their phone?

    • rebelng says:

      you buy the money like you would airtime on an unlocked phone.

    • Sumit says:

      Dear Sir,
      The money is being submitted by the customer himself to the Nokia Money Agent. This money is then, INSTANTLY transferred into the customer’s phone, right then and there in front of the customer’s eyes. Then the customer can use this mobile money to make transactions using the Nokia Money application, installed on the customer’s cell phone by the Agent. briefly stating, Nokia Money is a mobile banking service aimed at reducing the problems and risks associated with carrying cash with one.
      For further information on Nokia Money service, please get in touch with your nearest Nokia Retailer.
      Thank you.

  3. sujith says:

    nokia tied up with vodafone to launch e7. Buyers who will by e7, if they use vodafone sim will get 2gb data free for 6 months. Vodafone also launching nokia c7 in india. . .

  4. ahsan says:

    I think it was back in ’2009 . In an interview the country head of Nokia Pakistan was asked if and when “nokia money ” would be coming to pakistan , he had replied Pakistan doesn’t have a proper mobile banking structure . The very next day a telecom Operator launched “easy paisa” – A mobile banking solution . Same year another bank launched “Omni” and so on …. Nokia needs to take a step ahead sometimes really rather than just following others….Meego could’ve been that “step ahead” but that too was killed by a Trojan

    • hary says:

      This is not the first time Nokia has introduced Nokia money in India.
      I think the first time they introduced in India and probably anywhere in the world was in 2009 or early 2010 with “Yes Bank” in India.
      Google it.

  5. Amey says:

    Thanks Jay.
    Only if Nokia can get NFC on low end phones (as they are targeting people without bank accounts who would not buy the expensive C7) and get a functional software for it……..waiting.

    • hary says:

      You missed the point. Nokia money is specifically for low end phones, infact people buying those low end phones. It works from any Nokia S30/S40 phone i think. This is not the first time Nokia has introduced Nokia money in India.
      I think the first time they introduced in India and probably anywhere in the world was in 2009 or early 2010 with “Yes Bank” in India.
      Google it.

      • Amey says:

        I completely agree with your point.

        However my point is about NFC chips. NFC chips would make it redundant which bank you are paying from. You can pay from your bank account, mobile wallet, bill it to your network to get it in your post-paid bill………the avenues are tremendous.

        That is why I would like to see more entry level handsets have the NFC chips and a working software.

    • Sumit says:

      Dear Sir,
      The array of Nokia cell phones compatible with the Nokia Money application is being constantly widening. As per the latest news, almost every Nokia cell phone is compatible. Also, the customer does not need to have a Nokia phone, but any cell phone with basic features can be used. The most basic phones at least have the SMS feature, and it is all that is needed for Nokia Money.
      For further information on Nokia Money service, please get in touch with your nearest Nokia Retailer.
      Thank you.

  6. rahul verma says:

    yes

  7. Abu says:

    me to a holder of nokia money . really its abest ever best one..

  8. mujhe nokia money me wark karna hai apna mob no dediliye…………. mera no .9936893689 jaunpur (up)

  9. shamsher says:

    gooooooooood verrrrry verrrrrry gooooood ye servic mujhe bahut pasand aaya. Is service Line lagane se chutkara mil gaya.lekin jab sabhi bank ke ATM machin se cash withdraw hone lage to thik he. Nahi to bekar he. kyunki…………………………..

  10. SHAILENDRA RATN MAURYA says:

    I WANT BUSSINESS WITH YOU

  11. Sumit says:

    Nokia Money is a free service that aims at reducing the problems and risks involved with carrying cash with one self. The customer need not carry any cash but he can carry as much money(up to Rs.50,000/-) in his mobile phone. For further information on Nokia Money service, please get in touch with your nearest Nokia Retailer.
    Thank you.

  12. bhoopendrasingh says:

    this service is very very bad

    I many upset with this service

  13. I just wnt no abt ur proposal bcz i m intrested as ur product for corporate agency and i would like do mkt for ur product..i hav already all well set up iffoice & manpower..

    thanks & regards ,

    Vinod R.Bhagat
    cell :09540690979

  14. pls call me i m intrested for working with ur product

    thanks & regrds,
    Vinod R Bhagat
    cell 08588950770

  15. Good day very nice web site!! Guy .. Excellent .. Amazing .
    . I’ll bookmark your website and take the feeds also? I am happy to seek out so many helpful information right here within the publish, we need work out more techniques on this regard, thank you for sharing. . . . . .

Leave a Reply