Mobile Banking Will Soon Be Available in Nokia Phones
Mobile giant Nokia Corp. on Wednesday bared plans to include mobile banking services features in its mobile phones that will allow consumers to send money, pay the bills, and even buy items with just one device.
Finland-based Nokia Corp. on Wednesday said that mobile banking will soon be available in several models of its mobile phones to allow frequent travelers pay merchants, goods and services, and utility bills.
Users can even reload their pre-paid SIM cards using the banking service and send electronic money to another person anytime, anywhere.
In a statement, Nokia said that it is now build a network of Nokia Money agents that would be available 24 hours a day starting next year. The said infrastructure would allow consumers to deposit and withdraw money using their mobile accounts.
Nokia chief development officer Mary McDowell said that the financial services that the mobile banking can offer to most of the consumers on the go could also give a wider market opportunity for the company in its long term growth.
She cited that there are more mobile users compared to the actual people that have bank account. To date, there are over four billion people using mobile phones while there are only 1.6 billion people that have bank account.
Nokia currently holds 38 percent of the mobile phone market, making it the world’s largest cellphone manufacturers.
But experts believe that Nokia has to step up on its Smartphone features after recent outcome of sales in the category, which showed that it was already overtaken by iPhone and BlackBerry.
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