PURCHASE, N.Y. | MasterCard announced the intention to enter into a commercial agreement with Monitise to accelerate the development and deployment of mobile wallets and digital payment solutions by financial institutions worldwide. MasterCard also intends to make a minority investment in Monitise.
Innovative and Secure Payment Solutions
Monitise provides solutions designed to help consumers bank anywhere, pay anyone and buy anything through mobile applications. The combination of MasterCard and Monitise’s complementary expertise in developing mobile platforms for commerce and banking is anticipated to result in additional innovative and secure solutions.
“For more than a decade, MasterCard has driven the development of mobile commerce – including the world’s first contactless and mobile payments solutions,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “Our partnership with Monitise builds upon a shared commitment to improve the mobile shopping experience today and into the future.”
Monitise works with more than 350 banks and financial institutions, merchant partners and payment processors including Royal Bank of Scotland, Lloyd’s Banking Group, U.S. Bank, HSBC, Telefónica and FIS, serving 28 million registered users worldwide. On an annualised basis, the company processes 3.5 billion transactions and the value of payments and transfers initiated by its technology platform is over $70 billion. Click the image below to view their video 'Monitise Powering the World of Mobile Money'.
MasterCard, www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone.
Sourced from MasterCard, March 24, 2014