Nokia Money Acquired By Fino In India For An Undisclosed Amount

Posted on Jun 28 2012 - 3:15pm by Editorial Staff

Earlier this year, Nokia announced that it is going to close its Nokia Money business in India, rounding up the news further today, Fino, financial inclusion facilitating firm has acquired Finnish mobile company’s mobile payment service business in the country. Although the financial details are undisclosed, but the company says it was an all cash deal. Fino CEO Manish Khera said, the acquisition give an opportunity to the company to enter the mobile payment business, which is said to totaled $350 billion opportunity by 2015. Nokia, which recently seen an estimate cut of $7.5 billion by Nomura analysts, this acquisition would be quite possible.

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Editorial Staff at I2Mag is a team of subject experts led by Karan Chopra.