Nokia has launched a new application/initiative called the 'Union Bank Money powered by Nokia' across India for its all upcoming Nokia devices, merging with various retailers, merchants and institutions like Obopay, Union Bank of India and Yes Bank. This app will be integrated in Symbian smartphones-Nokia's series 30 and series 40. The service will let users to use their mobile phones as a wallet that can be used to make Bill payments, Money Transfer, Prepaid SIM top-up and Cash withdrawals from ATMs. The new app will allow users to manage their account and provide a convenient options for money transaction via mobile phones and keep a track of balance information. As of now, Bharti airtel offers "airtel money" service, allowing users to pay for bills through their mobile phones.
To activate this service, users can visit their nearest Nokia retailer to set up the service on their device, users will have to make a cash payment to the dealer and the dealer will transfer digital cash to the users cell phone followed by a SMS confirmation to the mobile phone with the details about payment and transfer.
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