Visa has signed a new commercial agreement with Monitise to expand delivery of mobile financial services to banked Visa account holders in conjunction with Visa’s financial institution partners. Monitise’s expertise in customizing mobile applications for a broad range of phone models and operating systems enables Visa to virtualize existing Visa accounts on mobile phones and offer Visa account holders globally a new array of payment types.
One key focus of this alliance is the introduction of new mobile services to existing Visa account holders outside the U.S. that enable electronic payments on the go to meet consumers’ daily needs including mobile top-up, utility payments, and transit ticketing.
In addition, Monitise and Visa will launch a mobile banking solution in the U.S. for clients of Visa DPS, Visa’s debit and prepaid processing platform. This new service is designed to enable Visa clients and processing partners in the U.S. to quickly and efficiently offer their customers a suite of services, such as mobile payments, person-to-person payments, mobile transaction alerts and mobile marketing offers.
Monitise plc (LSE: MONI.L), is a global leader in Mobile Money solutions, with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of mobile banking and payments services to their customers in both developed and developing territories.