Here in American in other developed countries most people have bank accounts and can easily pay bills without actually having to handle cash. However, in the developing world most people lack a bank account.

Nokia has announced Nokia Money, a service that allows users to pay bills and other types of payments directly from their mobile phones. Mobile phones are common in developing worlds and the new service will make it easier for users to pay for items.

Nokia says that it is in the process of setting up a network of money accepting locations where users can get cash or add money to their accounts. Sending money to other users is as easy as sending a text message according to Nokia. Nokia Money will be shown for the first time at Nokia World.

[via SlashGear]