The Mobile Money Network will initially be open to people in the UK in early 2010 from The Carphone Warehouse retail business in the UK, which has over 800 outlets, before being rolled out into Europe and the USA.
It aims to enable tens of millions of consumers to sign up to mobile banking services, buy goods and services, send money to their friends, top up their prepaid and loyalty cards and top up their mobile phone credit, all from a mobile app on their handset.
Andrew Harrison, chief executive officer of The Carphone Warehouse, said: “We are delighted with how our alliance with Monitise is developing. It is enabling Visa to optimize the development and user experience of Visa mobile applications for a broad range of mobile devices in the market today.”
The second announcement from Monitise is to develop its Mobile Money services in Asia Pacific and to extend mobile banking and payments into the world of retail.
Monitise has reached an agreement with First Eastern, a Hong Kong based direct investment firm, to roll out its Mobile Money network across Hong Kong, China and other territories in the Asia Pacific region, enabling people to use Monitise’s cutting edge mobile banking and payments services.
The first services are expected to be available in Asia Pacific through banks and financial institutions to consumers during 2010.
Victor Chu, chairman of First Eastern, said: “We are most excited to partner with Monitise in the Asia Pacific region. This will be a fantastic growth opportunity for both First Eastern and Monitise in view of the vast market potential here for value added services and products introduced by a proven mobile banking and payments platform.
“With First Eastern’s extensive network and investment expertise, I am confident that we will contribute significantly as Monitise rolls out its ambitious expansion plans across the Asian region.”
Alastair Lukies, chief executive officer, Monitise, said: “Monitise has reached a point of significant momentum. These new partnerships, together with the investments and full support of our existing strategic shareholders, validate our market leading status and position us very well to take the business through to profitability.
“People everywhere will be able do their banking, shopping and make payments from their mobiles as easily as they can talk and text. After years of hard work building the platform for Mobile Money, it is good to see it come of age and begin to reach out to the mass market globally.”
Monitise is growing rapidly and in the UK it has taken 100% ownership of Monilink, its former UK joint venture, now being rebranded Monitise.