Nokia announces mobile finance service Nokia Money

SAN FRANCISCO — Nokia Corp. on Wednesday announced a mobile financial service that the handset maker said will let users send money to others by typing in that person’s cell phone number.

Called Nokia Money, the service will also let users buy products and pay for services, pay utility bills and refill prepaid SIM cards in their phones.

Nokia, which is based in Espoo, Finland, said the service is being run with mobile payment company Obopay and is based on that company’s payment platform. Nokia invested in Obopay earlier in 2009.

Nokia plans to let Nokia Money work with other payment services, too.

Nokia Money will be shown off at Nokia World in Stuttgart, Germany in September. The company plans to release the service in some markets starting early next year.