9th Jun 2011 11:00
June 9, 2011
Monitise Signs New Alliance Agreement with Visa Inc.
Monitise and Visa Accelerate Deployment of Mobile Services to Visa Account Holders Globally
Monitise plc, the leading global enabler of Mobile Money services, is delighted to announce a new agreement with Visa Inc., the world's leading payments company.
The new five-year alliance represents minimum annualised revenues to Monitise in excess of $10 million in the first three years, with potential for greater revenues in years 4 and 5 as key milestones are achieved. The agreement is intended to enable Visa to mobilise existing Visa account holders in the U.S. and in other key geographies creating new mobile solutions that replicate the ease, reliability, and security of traditional Visa payments, on mobile phones and in ecommerce stores accessed via mobile phones.
"Visa is the benchmark for trusted payments innovation on a global scale and it is a huge honour for Monitise to be playing our part in their mobile strategy. Mobile Money is an industry that will have a big societal impact as the 5+ billion mobile phone users around the world discover new ways to bank, pay, trade and shop. This agreement validates Monitise's strategy of becoming the leading trusted enabler in the space and cements our role in this ever growing ecosystem," said Alastair Lukies, Chief Executive of Monitise.
About Monitise plc
Monitise plc (LSE: MONI.L) is a global leader in Mobile Money solutions, with the proven technology and expertise to enable financial institutions and other service providers to offer a wide range of mobile banking, payments and commerce services to their customers in both developed and emerging markets.
With live services in the UK, India, Africa and in the US, where it is in partnership with FIS, the company is currently working with international partners to extend trusted and secure mobile banking, payment and commerce services in territories worldwide, including India, Africa and the Asia Pacific region. Current key partners include Visa Inc. and Visa Europe, VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Royal Bank of Scotland, NatWest, Travelex, U.S. Bank, Ulster Bank, Standard Chartered Bank, Vodafone, Orange, O2, T-Mobile, 3 UK, Research In Motion, Best Buy, The Carphone Warehouse, First Eastern and JETCO.
More information is available at www.monitisegroup.com
Contacts:
Monitise Group Tel: +44 (0) 20 7947 4300
Alastair Lukies, CEO
John Brougham, CFO
Tom Spurgeon, Finance Director and Company Secretary
Gavin Haycock, Communications Director
Evolution Securities Limited (NOMAD) Tel: +44 (0) 20 7071 4300
Bobbie Hilliam
Tim Redfern
Canaccord Genuity Limited Tel: +44 (0) 20 7050 6500
Simon Bridges
Financial Dynamics Tel: +44 (0) 20 7831 3113
Charles Palmer / Jon Snowball / Tracey Bowditch
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