Obopay Inc., the service provider for payments via mobile phones, announced an investment from Nokia. According to the Financial Times the mobile device manufacturer’s investment was $70 million.
Obopay has also named Teppo Paavola, vice president and head of corporate business development at Nokia, to its board of directors.
The company will use this minority investment to extend its product suite and enhance its global presence, as mobile devices become constantly more integrated into the daily lives of mobile consumers.
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