Nokia unveils new mobile financial service
Mobile phone maker Nokia on Wednesday announced the launch of a financial service called Nokia Money, designed to let consumers pay bills and merchants and send money to friends and family using their cell phones.
Nokia believes the service will help people in the U.S. and in emerging markets who are not served by banks or other traditional financial outlets.
"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," said Mary McDowell, Nokia's chief development officer.
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