As we all know that India is really an important market for the whole world. The greatest strength in the market of India is the customer base. It has such a huge market that the chances of failure for any product or service are really low. One can expect the product or service to perform well in the market.

Looking up to the attractiveness of Indian market Nokia Inc. planned to offer money transfer services to the Indian market. Initially they set out a pilot project in Pune to test the market demand and attractiveness of the service. After getting positive results from Nokia Mobile Money Transfer pilot project in Pune, Nokia Inc. has finally decided to launch this service all over India.

The Mobile Money Transfer services are provided by YES bank in Pune in association with Nokia Inc. with the approval of Reserve Bank of India. Through this service people will be able to make purchases from stores, do shopping, pay utility bills and transfer money to other individuals from their Nokia mobile phones. The Nokia officials further explained that all what an ordinary man needs to do is to come at Nokia retail shop, fill a form against his name and mobile phone, open an account and deposit the amount. He can then use his mobile phone to make payments at different occasions and places. This service will really reduce the crime rate in India as people will get relief from carrying cash or plastic money with them.

Currently only YES bank is associated with Nokia mobile money transfer service in India but the Nokia official are looking forward to enter in a dialogue with other banks in India too with the approval of RBI. The date of launch of this service has not yet been decided but people of India will not have to wait for long to enjoy this service.