8th Jul 2015 07:01
LONDON (Alliance News) - Monitise PLC Wednesday said that Visa Europe Ltd, which owns 5.3% of the mobile banking and payments company, is to cut its shareholding over time.
Monitise, which designs the mobile apps banks make available to their customers, said that Visa Europe will continue to work with it for the duration of their three-year commercial agreement expiring at the end of March 2016.
"Both parties look forward to working together for the duration of this commercial agreement and will assess on an ongoing basis opportunities to work together in future," Monitise said in a statement.
Visa Europe has been a shareholder in Monitise since October 2011.
By Samuel Agini; [email protected]; @samuelagini
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