Nokia has decided to shut down its mobile money services globally. The decision is in line with its earlier decision to move out from non-core business. However, the service will continue for three-four months until an exit strategy is formulated and customers have time to use up the money. Nokia launched the services in 2010 in association with Yes Bank and Union Bank. Around 1.2 million people are using Nokia mobile money services throughout India.
Mahanagar Telephone Nigam Ltd (MTNL) has launched a pre-paid mobile recharge service through bank ATMs for its 2G/3G GSM (global system for mobile communications) customers in Mumbai. MTNL Mumbai’s prepaid recharge through ATMs facility is available through Barclays Bank, Citibank (kiosk), Corporation Bank, Dena Bank, Deutsche Bank, Development Credit Bank, Greater Bank, IDBI Bank, ING Vysya Bank and Standard Chartered Bank.
SBI Cards and Payment Services Pvt Ltd launched two new initiatives. The first called ‘No Income Documents’ simplifies procedures for existing mortgage and auto loan customers as it eliminates the need to provide income documents while applying for a new card.
Kadambi Narahari, CEO, SBI Cards, said, “There is a minimum limit for eligibility for applying for SBI Cards. Customers should have a home loan of Rs10 lakh or more and an auto loan of Rs3 lakh or more. The customer has to sign a declaration and provide KYC documents for enrolment. The second initiative is an innovative customer referral programme and has been named ‘Link’. It provides a platform for existing SBI Cards customers and invites them to refer their friends. Customers stand a chance to win exciting rewards by linking friends to SBI Cards.