Nokia has decided to scrap what could have been its third NFC handset, the Nokia 6216, due to the quality of the consumer experience not being what it hoped for. The Nokia 6216 would have also been the first NFC handset to have handed over control of the payment system to the Service Provider’s SIM card through SWP (Single Wire Protocol). SWP is the exact architecture that China Unicom is expected to be deploying later this year.

Amongst the commotion of Nokia, Intel and MeeGo at the Mobile World Congress in Barcelona, Nokia also announced that it has teamed up with YES BANK to introduce a live commercial pilot scheme of Nokia Money in India. Nokia Money will see its test debut in Pune, one of the largest metropolitan areas in India, and will be called ‘Mobile Money Services by YES BANK’. Check out the video of Gerhard Romen, Nokia’s Director for Alliances, after the break, to find out more.

Your mobile devices will become your preferred way to pay and to manage your money. Nokia believes that the mobile-enabled financial services are a market opportunity with long term growth potential, especially in the emerging countries. The demo will show how simple and easy it is to use a mobile phone for remote and local payments. You can send money to your family and friends, pay your bills and top-up your prepaid account.

Check out this video demonstration of what mobile banking could look like in the future. The video was taken at the Cartes Exhibition in Paris, where Visa were showcasing their future concepts of mobile banking.