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FINO acquires Nokia Mobile Payment Services in India

FINO has acquired Nokia Mobile Payment Services in India, thereby making its foray into prepaid mobile payment space.

, ET Bureau|
Updated: Jun 27, 2012, 08.06 PM IST
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MUMBAI: FINO,one of country's larger business correspondents have acquired Nokia Mobile Payment Services in India, thereby making its foray into prepaid mobile payment space.

The brand name has been changed to Takatak Money. Almost 65% of all retail transactions in India are conducted in cash.

"This is a strategic investment for FINO. It will add value to our comprehensive range of financial serivces products, there by enhancing shareholders valu," said Rishi Gupta, CFO--FINO.

The new brand will be led by Shweta Aprameya who heads the business management group at FINO.
The business correspondent plans to leverage the 920 million strong customer base to extend its services in both urban as well as rural,less accessible geographical belts.

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