Mobile payments are now a common trend and Nokia, the world leader in mobile communications, has just invested in Obopay in a resounding endorsement for Obopay’s ongoing innovation in mobile money technology.

“This investment is a landmark in the evolution of mobile payments. It underscores the global potential of mobile money by providing convenient access to money anytime, anywhere. Given Nokia’s position as the leader in mobile communications, we could not have asked for a better investor,” commented Obopay CEO Carol Realini.

Obopay will use this minority investment to aggressively extend their product suite and enhance their global presence, as mobile devices become constantly more integrated into the daily lives of the world’s 4 billion mobile consumers.

(Source) Press

Tags: Cell Phones, global presence, Innovation, investor, mobile communications, mobile consumers, mobile devices, mobile money, Mobile News, mobile payments, Mobile Software, Nokia, Nokia, obopay

To settle some payables or account for certain needs that are associated with the social networking operations for sites like Hi5, mobile payments are now made possible in order for members to purchase hi5 Coins, hi5’s virtual currency which is redeemable for gifts and premium content on the hi5 site. Countries where Paymo will be made available to hi5 users include the U.S., Canada, France, Hong Kong, Thailand, Russia and Colombia.

The partnership extends hi5’s global reach, by providing the ability to accept direct user payments from millions of consumers around the world who do not have or do not want to use credit cards. Over 75 percent of the online community worldwide does not have a credit card, but 3 billion consumers own a mobile phone. Paymo is currently live in 45 markets around the globe, enabling mobile payments in Europe, North and South America, the Middle East, Africa and Asia.

For consumers - Paymo provides an easy, fast and safe way to pay online. You don’t need a credit card, or a bank account. You don’t need to register. Simply by entering your mobile phone number and replying to a text message you can make a purchase. The charges are deducted from your pre-paid balance or appear on your monthly cell phone bill.

(Source) Press

Tags: Business, consumers, credit cards, east africa, globe, hi5, Mobile News, mobile payment, mobile payments, mobile phone number, north and south america, payment platform, social networking, text message