The sudden demise of Nokia Money. Utilize it or Donate it. Customer Care No: 18003001122

By 15/04/2012, the 2 lacs+ subscribers of Nokia Money have to utilize their ‘Nokia Money balance’, or the same would be deemed as donation to Nokia Corporation.

3 Possible Scenarios in the near future: -

1. Yes Bank and Union Bank jointly take over this platform.
2. Customers migrate to other Mobile Payment Providers. As of now, the other players are Airtel Money or SBI’s MobiCash.
3. Customers migrate to other Closed/Semi-Closed Wallet Players

4 partners involved in this activity:-

Partner 1 – Nokia made a strategic investment in Obopay ($70 Million) back in 2009 and launched the service in India quite recently. After a year long pilot program, the company announced the launch of Nokia Money across India in December, last year.

Partner 2 – Obopay

Partner 3 – Union Bank of India

Partner 4 – Yes Bank

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Nokia made a strategic investment in Obopay ($70 Million) back in 2009 and launched the service in India quite recently. After a year long pilot program, the company announced the launch of Nokia Money across India in December, last year.

6 important dates in the Nokia Money Timeline:-

1. August 27th, 2009: Announced: Nokia Money – Your Mobile will turn into a Wallet
2. Feb 15th, 2010: Nokia to Launch Mobile Money in India – In Partnership with Obopay/Yes Bank
3. April 30th, 2010: Nokia Mobile Money Project gets approval from RBI
4. July 2nd, 2010: Nokia Launches Mobile Money Service in Chandigarh
5. December 14th, 2011: Nokia Money goes pan-India.
6. April 15^th, 2012: Nokia Money laid to rest.

2 quick tips to utilize your Nokia Money : -

1. All transactions – Bill Payment, Prepaid Recharge and DTH Recharge are now FREE of Charge
2. Registration amount can be sought via SMS or by calling at the customer care on or before 25^th March, 2012

5 motivators for Nokia to have commenced Nokia Money:-

1. The belief that financial services are one of the major business opportunities in the wireless industry.
2. An attractive feature of Nokia Life Tools suite.
3. An opportunity to lock in customers from migrating to other mobile handsets.
4. USP of retaining Nokia Money, even if customers shift their mobile operators.
5. Access to interest free short term funds, as no interest is paid on monies parked in the mobile wallets.