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According to Wikipedia, “mobile payment is new and rapidly-adopting alternative payment method – especially in Asia and Europe. Instead of paying with cash, check or credit cards, a consumer can use a mobile phone to pay for a wide range of services and digital or hard goods”, from games, music, ringtones, videos or wallpapers, transportation fare, to all sorts of books, magazines or tickets.



Mobile payment is still unknown to the large public, but chances are very high for it to grow in the next couple of years to become the payment method pre-eminently used by more and more people. And Nokia seems to understand very well where things are heading to, as they usually do, so they decided to invest in a mobile payment solution called Obopay.



Obopay is a company headquartered in the United States and gives its customers the possibility to use any handset in order to pay or transfer money. The only condition is for people to use the service provided by Obopay.

In order to celebrate somehow the participation and interest of Nokia in the company, Obopay decided to name Teppo Paavola, who is the vice president and head of Corporate Business Development at Nokia, to the board of directors. What we don’t know for sure is the amount of money Nokia was willing to invest in this company.

“This investment reflects our belief in the global potential for mobile payments. Obopay has consistently demonstrated its ability to redefine how people spend and send money and has established itself as the leader in a competitive landscape”, said Teppo Paavola.

The money will be used in an attempt to make this mobile payment solution better known to the public and to extend Obopay’s product suite. In addition, another purpose will be the increase of the company’s global presence.

(Source: unwiredview.com)