In an effort to promote the financial inclusion for the unbanked, Nokia, the Finnish multinational communications company, has launched a new financial option in India: Nokia Money, an electronic-wallet service. Nokia Money allows customers to load cash to their mobile phones at local Nokia dealers. The electronic money then can be used to pay services, including phone recharging and insurance policies. Customers can upgrade to the money services that Nokia has set with Yes Bank and Union Bank of India; person-to-person money transfers, cash withdrawals and other financial services. According to the press release, the service is aimed to reduce the problems that face people in rural India due to limited access to banks.

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