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Nokia Invests in Obopay Mobile Payment Company

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Obopay today announced an investment from Nokia with an undisclose amount. Obopay has also named Teppo Paavola, vice president and head of Corporate Business Development at Nokia, to its board of directors. Obopay is capable for the person-to-person transfer of money on the mobile device and the ability to get instant access to money on the phone with a credit card.

“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.

Teppo Paavola, said, “This investment reflects our belief in the global potential for mobile payments. Obopay has consistently demonstrated its ability to redefine how people spend and send money and has established itself as the leader in a competitive landscape.”

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