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Video Apple unveils newest iPad Follow Reuters Facebook Twitter RSS YouTube Read Afghan civilian deaths could delay strategic pact with U.S. | 3:35am EDT Actor Michael Madsen arrested after alleged fight with son 11 Mar 2012 UPDATE 4-Harrisburg, Pa. to skip two debt payments 10 Mar 2012 Sixteen Afghan civilians killed in rogue U.S. attack | 11 Mar 2012 Peter Thiel, university-hater, heads to campus 11 Mar 2012 Discussed 157 Obama warns against ”loose talk” of war on Iran 156 U.S. serviceman detained in Afghanistan over civilian casualties 137 Israel asks U.S. for arms that could aid Iran strike Watched Turkish soap operas ignite culture war in Middle East revolution – Decoder Thu, Mar 8 2012 Israeli army releases video of airstrike Sat, Mar 10 2012 Is CNN buying Mashable? -- SXSW Sun, Mar 11 2012 Nokia ramps down mobile money services Tweet Share this Email Print Nokia President and Chief Executive Olli-Pekka Kallasvuo talks about money transfers with mobile phones during the 2010 International Consumer Electronics Show (CES) in Las Vegas, Nevada January 8, 2010. Credit: Reuters/Steve Marcus Related News Nokia unveils cheaper Windows smartphone Mon, Feb 27 2012 Analysis & Opinion Tello tries to make customer service gripes more effective Related Topics Tech » Mon Mar 12, 2012 3:32am EDT (Reuters) - Nokia (NOK1V.HE) said on Monday it has decided to close down Nokia Money, a financial service targeted for emerging markets, as it focuses on the phone business and location-based services. Nokia opened the financial service across India only late last year and was planning to expend to several other emerging markets. Financial services are seen as one of the major business opportunities in the wireless sector, but so far have become a big business only in Kenya and the Philippines, as tight regulations and the lack of a business model have restricted takeup elsewhere. Nokia is in the midst of revamping its operations under Chief Executive Stephen Elop, who was hired in September 2010 to turn around the company. 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