With the new application, users will be able to carry out person-to-person (P2P) money transfers, make bill payments as well as pay for their purchases at accepting merchant points. Union Bank Money will also enable customers to withdraw funds from the Union Bank of India ATMs using their Union Bank Money ATM card across the country as well as through BC cashout (Registered Nokia stores).
Nokia has already revealed plans to preinstall the application on Nokia mobile devices. Moreover, the newly-launched mobile payment service will be distributed via Nokia’s retail network of more than 200,000 outlets. Through the newly-formed partnership, Union Bank of India aims to enable financial inclusion for both the rural and urban population across the Indian territory. Union Bank of India activates across India via a network of 2900 branches and 2400 ATMs.
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