How it works?
Users can go to any Nokia retail shops across the country and fill a form which will provide an account in the YES bank. More importantly Nokia promises that it will not take more than 15 minutes to open an account. Then users can deposit any amount of money on the Nokia retail shop which in turn will increase the credit on the mobile used while registering. By using this facility users can buy things in shops, can pay electricity bill and water bill as well.
Finally users can also transfer funds to the other person. Right now only YES bank is tied in this deal but Nokia is planning to initiate the discussions with other banks with the permission from RBI.
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