Prepaid card deal with US bank

5 October 2010

NEW PARTNERSHIP EXTENDS MONITISE LEADERSHIP POSITION IN PREPAID CARD MARKET

Monitise, a global leader in mobile money solutions, announces the launch of a new mobile banking service for U.S. Bank's prepaid card holders.

The agreement sees U.S. Bank, the fifth largest bank in the USA, collaborating with Monitise to bring a suite of advanced financial management services to its prepaid card customers, with Monitise receiving revenues on a per transaction basis.

The new U.S. Bank service for its AccelaPay® Visa cardholders provides convenient, free access to their accounts anywhere and anytime using their mobile phone. Using advanced financial management technology developed by Monitise they can check their balance, pay bills, receive account alerts and view mini-statements on-the-go, by downloading the free AccelaPay application at accelapay.com or by accessing the AccelaPay mobile website at m.accelapay.com.

Welcoming the new collaboration Alastair Lukies, chief executive officer of Monitise, said:

"It has always been our belief that mobile phones and prepaid cards should go hand-in-hand. The advanced mobile apps we have developed not only provide control and convenience to the consumer but also reduce costs for the issuer.

"At Monitise we are delighted to be working with U.S. Bank, which has an established pedigree in driving innovation in the financial sector, and will continue with our strategy to be global leaders in maximising the mobile services available with pre-paid cards."

Monitise's financial management technology allows the full potential of prepaid cards to be realised, offering a range of mobile management services from simple text alerts at one end of the spectrum, to customers reloading their cards, at the other.

U.S. Bank is working in partnership with Monitise Americas to make AccelaPay mobile banking available for all major smartphone brands. Plans are underway to introduce the mobile banking service to U.S. Bank ReliaCard® Visa cardholders in November, and to expand the offering to other prepaid card products later this year.

Monitise is rapidly establishing itself as a global leader in the field, providing mobile account management services to one of the fastest growing areas of financial services. US Bank will join Travelex and H&R Block along with other financial institutions in utilising the Monitise mobile money platform for prepaid cards.

For further information, visit www.monitisegroup.com.

ENDS

About Monitise

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 and payments services to their customers in both developed and developing territories.

With live services in the UK and in the USA, where it is in partnership with FIS, the company is currently working with international partners to deliver similar safe, secure mobile banking and payment services in territories worldwide, including India and the Asia Pacific region. Current key partners include Visa, VocaLink, FIS, HSBC, Lloyds TSB, First Direct, Royal Bank of Scotland, NatWest, Travelex, Ulster Bank, Standard Chartered Bank, Vodafone, Orange, O2, T-Mobile, 3 UK, The Carphone Warehouse and First Eastern.

For more information visit http://www.monitisegroup.com 

About U.S. Bancorp

U.S. Bancorp (NYSE: USB), with $283 billion in assets as of June 30, 2010, is the parent company of U.S. Bank, the fifth largest commercial bank in the United States. The company operates 3,002 banking offices in 24 states and 5,309 ATMs and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.