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Nokia has introduced Union Bank Money, a new mobile financial service offering consumers with mobile device access to basic financial services, with Union Bank of India.
For many consumers, this will be the first time they have had any access to such financial services.
Union bank Money has been designed to be as simple and convenient as making a voice call or sending an SMS. It will enable consumers to send money to another person just by using the person's mobile phone number, as well as to pay merchants for goods and services, pay their utility bills, or even recharge their prepaid mobile phones. There would be many other services that would be included going forward. The services can be accessed 24 hours a day from anywhere, meaning savings in travel costs and time.
Nokia is building a wide network of UBMoney agents for UBI Money, and has joint hands with Oxigen to enable Oxigen retailers to become UB Agents, where consumers can deposit money in to or withdraw cash from their UBI account. |
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Union Bank Money provides all Features on mobile.
Retailers registering for Union Bank get Oxigen services for FREE!
Retailers can get increased footfall and can optimise the usage of a common TB.
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What Services will Union Bank Money provide? |
- Deposit Money
- Withdrawal Money
- Transfer Money to another UBI Account holder
- ATM Card
- Mobile Recharge
- Bill Payments
- • Mobile Application for both Customer & Retailer, to enable the use of Union Bank Money.
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What Benefits does the Retailer get? |
Retailer can earn on:
- Every New Account he Activates
- Cash Withdrawal
- Cash Deposit
- Money Transfer
- ATM Card Issue
- Recharge
- Bill Payments
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What Benefits does the Customer get? |
If Customer have Nokia Handset :
- Side Load Union Bank Money Application on Compatible Nokia Handset
- Customers can initiate the following transactions from Union Bank Money Mobile Application :
- Send Money
- Withdraw money
- Pay bills
- Recharge talktime
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If Customer does not have Nokia Handset :
- Customers can still transact using SMS/IVR :
- Send SMS in Standard format
- Customer will receive call back from IVR asking for what services customer would like to avail.
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What All Does a Retailer need to have to become a Union Bank Money Agent? |
- Sign up as a Union Bank Money Agent (and automatically become an Oxigen Retailer)
- Own a Dedicated Nokia Compatible Handset for Banking
- GPRS Connection on Mobile
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How does it work? |
To be Ready to do any Transactions, the retailer needs to do the following :
- Download Agent Mobile application on his Nokia Mobile phone
- Deposit Trading Balance with Oxigen
- Active his Agent Account
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How to become a Union Bank Money Distributor? |
- Send an E-mail to BC@myoxigen.com
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How to become Union Bank Money Agent? |
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Below details will be displayed |
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Easy Send, Easy Receive: Most used KYC docs
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Identity Proof(I)
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Current Address Proof(A)
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Signature Proof(S)
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| 1 |
Passport(No Other Document Needed)
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Y
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Y
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Y
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| 2 |
Driving License (No Other Document Needed)
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Y
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Y
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Y
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Voter ID, Ration Card/ Certificate from local body/NGO/MFI in case of rural customers (should have photo)
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Y
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Y
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N
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| 4 |
PAN Card, Job Card
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Y
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N
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Y
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Utility Bill (<3mths old) (Telephone, Electricity, Mobile, Piped Gas, Gas Connection Book, Broadband, Water Bill, Municipal Corporation Bill), PAN Intimation Letter
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N
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Y
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N
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Credit Card Bill Along with copy of Credit Card (<3mths old), Salary Slip, Govt. Defence Id Card
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N
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Y
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N
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One Month Bank Account Statment (on bank letterhead), Life Insurance Premium
Receipt, Document/Communication issued by GOI/State Govt/Local Body
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N
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Y
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N
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Registered Sale Deed Letter from Housing Society (Only for owners) The letter template should specity that the concerned is the owner
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N
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Y
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N
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| 9 |
Registered Leave & License Agreement (For Tenants)
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N
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Y
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N
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| 10 |
College Id Card (Photo Mandatory)
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Y
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N
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N
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