Visa and Monitise are further strengthening their partnership via a new three-year commercial agreement spanning the development and deployment of Mobile Money payments and mobile commerce solutions for Europe’s leading financial institutions.
Heads of terms have been signed for the agreement, which covers license rights to all aspects of Monitise’s mobile technology, Monitise said in a statement.
Monitise has been working in partnership with Visa Europe since February 2011 to deploy mobile payments services to its 3,000+ member banks and financial institutions across 36 countries. Visa Europe owns 7.5% of the shares in Monitise via an investment that forms part of its strategy to deliver increased value for financial institutions and consumers through enabling and supporting mobile payments.
Steve Chambers, Chief Information Officer at Visa Europe, said: “Mobile is changing the way we pay and buy. Visa continues to ensure that financial institutions remain at the centre of this important landscape. We are delighted to be deepening our long-standing relationship with Monitise to ensure continued best-in-class services for Visa Europe members.”
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