Recycling an old phone for cash is a potentially ideal way to generate some quick and easy income.

And a new service from Nokia may consumers who take this option to manage their finances in a quicker and more convenient fashion.

The manufacturer announced the launch of Nokia Money this week, which aims to provide mobile device banking services that are as simple to undertake as sending a text or making a phone call.

Users will be able to transfer money to others using the recipient’s mobile number, in addition to paying for products and bills.

Mary McDowell is EVP and chief development officer at the company. She explained that there is worldwide demand for such services.

“In many countries, mobile phone ownership significantly exceeds bank account usage, suggesting that many mobile phone users have very limited or no access to basic financial services,” she explained.

Earlier in August, Nokia discussed one of its latest handsets – the 5230 – and said it was created for those who lead active lives.

Sell your old mobile phone now

Written by Mazuma

Mazuma Mobile is the UK's most trusted mobile phone recycling service.

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