Nokia Money has been designed to be as simple and convenient as making a voice call or sending an SMS. It will enable consumers to send money to another person just by using the person’s mobile phone number, as well as to pay merchants for goods and services, pay their utility bills, or recharge their prepaid SIM cards (SIM top-up). The services can be accessed 24 hours a day from anywhere, meaning savings in travel costs and time. Nokia is building a wide network of Nokia Money agents, where consumers can deposit money in or withdraw cash from their accounts. „“We believe mobile financial services offer a market opportunity with long term growth potential. In many countries, mobile phone ownership significantly exceeds bank account usage, suggesting that many mobile phone users have very limited or no access to basic financial services. With more than 4 billion mobile phone users and only 1.6 billion bank accounts, global demand for access to financial services presents a strong opportunity to combine mobile devices with simple but powerful financial services such as Nokia Money““, said Mary McDowell, EVP and Chief Development Officer, Nokia. The Nokia Money service will be operated in cooperation with Obopay, a leader in developing global mobile payment solutions, which Nokia invested in earlier this year. The service is based on Obopay’s mobile payment platform, with unique and newly developed mobile elements. Nokia intends the service to be open and interoperable with other payment services as well. „“Obopay shares Nokia’s vision for bringing mobile financial services to millions of people worldwide. We’re excited that Nokia has chosen Obopay’s platform. Nokia’s leading market position, strong brand recognition and global distribution channel, using the Obopay platform with uniquely developed mobile elements, means the Nokia Money service is well positioned to bring the next generation of mobile payment services to the world,““ said Carol Realini, Founder and CEO of Obopay. Nokia Money is the result of a powerful collaboration Nokia is forging between different partners in different markets around the world. It is designed to work in partnership with mobile network operators and financial institutions, involving distributors and merchants in a dynamic ecosystem to seamlessly provide the new services. The Nokia Money service is planned to be rolled out gradually to selected markets, beginning in early 2010. www.nokia.com