9th Jun 2014 07:14
LONDON (Alliance News) - Monitise PLC said Monday it has signed a new partnership agreement with Turkey's Yapi Kredi Bank, to offer Nuvo, its 'branchless banking' service with mobile commerce capabilities.
The mobile payments business said Nuvo allows customers to open accounts and complete all their transactions via mobile and internet banking, removing the need to ever visit a branch.
Account features include competitive interest rates, free account transactions and money transfers, and perks such as Yapi Kredi's World Gold or Play Card loyalty programmes, said Monitise, as well as discounts and reduced delivery costs when shopping online.
The service is currently available on iOS and Android, in both Turkish and English. Yapi Kredi estimates that Nuvo will have over 300,000 customers in its first year, with one million active users within five years.
Shares in Monitise were trading flat at 67.25 pence per share shortly after the market open Monday.
By Alice Attwood; [email protected]; @AliceAtAlliance
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