The service will debut in Pune and will be called Mobile Money Services by Yes Bank.
The project initially will offer person-to-person transfers, bill payments and reloading mobile phone accounts. "At a later stage we will also allow payments for the purchase of goods and services," he said
The U.S. person-to-person payment company Obopay Inc. will also be involved in the project. Nokia invested about $70 million last year in the mobile-payment service provider.
The Indian mobile market is growing, said Mrinalini Manral, an analyst at the Mumbai research firm Dassler Business Intelligence. The test "should give us more insight" into consumers' needs.
