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Nokia To Shut Nokia Money; What Happens To Obopay?

Nokia is pulling the plug on its Nokia Money business in India, The Hindu Businessline reported earlier today. Nokia has confirmed the development to MediaNama, and shared the following boilerplate statement: As a result of Nokia’s evolving strategy and the business environment, we are exploring options for a structured exit from the Mobile Financial Services business at Nokia, including our own-branded Nokia Money services. Our services will continue to operate whilst we work with our banking, market and technology partners as well as our employees, agents and others to plan future options in accordance with all customer and regulatory requirements Nokia PR said that they don't have any information yet on deadlines, the refund mechanism or the services current user base in India. BusinessLine, though, has some data, and quoting sources, says that subscribers will be asked to use up…

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Founder @ MediaNama. TED Fellow. Asia21 Fellow @ Asia Society. Co-founder SaveTheInternet.in and Internet Freedom Foundation. Advisory board @ CyberBRICS

MediaNama’s mission is to help build a digital ecosystem which is open, fair, global and competitive.

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