YES BANK has launched Mobile Money Services in Pune and Chandigarh, India, powered by Nokia. They will allow the bank’s mobile users to transfer money to another person using their phone number, to top up the prepaid card of any mobile services or pay for postpaid mobile or land line and utility bills, and shop without cash.
The Mobile Money Service pilot was announced in February in Pune: the services are now commercially available to all Yes Bank and Nokia customers in Pune and Chandigarh.
D Shivakumar, VP and MD, Nokia India, comments, ‘Mobile Money Services by YES BANK is based on Obopay’s payments platform and designed to work in partnership with mobile operators and banks, involving distributors and merchants in a dynamic ecosystem. YES BANK is our first partner in India to bring this service to market.’