Nokia Invests In Obopay

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26th March 2009, 01:15am - Views: 759





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Nokia Invests in Obopay


REDWOOD CITY, Calif., Mar. 25 /PRNewswire-AsiaNet/ --


          Global leader's support represents mobile payments milestone


    Obopay, Inc., the pioneering service provider for payments via mobile

phones, today announced an investment from Nokia, the world leader in mobile

communications. This investment is 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 has also named Teppo Paavola, vice president and head of Corporate

Business Development at Nokia, to its board of directors.


    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.


    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."




    About Obopay

    Obopay, Inc. (www.obopay.com) is a pioneering service that lets consumers

and businesses purchase, pay, and transfer money through any mobile phone

using Obopay's mobile application, text message, mobile Web, or Obopay.com.

As the first mobile payment service created exclusively for the mobile phone,

only Obopay works on any mobile phone and any carrier to empower consumers

and businesses with the convenience of mobile payments. Obopay is bringing

mobile payments to more consumers through industry-first alliances and is

headquartered in Redwood City, California.


SOURCE:  Obopay, Inc.


    CONTACT: Erin Mitchell for Obopay, Inc.

             +1-646-712-3050

             obopay@RLMpr.com




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