Nokia plans to launch mobile “banking”, “paypal”

“The “Nokia Money” service will make it possible “to send money to another person just by using the person’s mobile phone number, as well as to pay merchants for goods and services, pay their utility bills, or recharge their pre-paid SIM cards,” [...] Nokia said it was building up a large network of Nokia Money agents where consumers can deposit money or withdraw cash from their mobile accounts. [...] “In many countries, mobile phone ownership significantly exceeds bank account usage”"

[via:FNB]