28th Mar 2011 07:00
TAPPING IN TO MOBILE COMMERCE
The Mobile Money Network unveils vision to the retail industry
The Mobile Money Network (MMN), a business in which Monitise (LSE:MONI.L) is a joint venture partner, is today announcing its vision to bring together the best in mobile payments, marketing and banking innovations, putting the mobile device at the heart of the consumer shopping experience.
Monitise CEO Alastair Lukies said: "The Mobile Money Network is enabling collaboration between retail, banking and media industries and Monitise is very proud to be a key part of this movement. We are delighted to be working on the development of the technology platform with MMN, given our global experience in mobile banking and payments that we have nurtured over seven years."
The full press release issued by Mobile Money Network can be found below.
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Contacts:
Monitise Group Tel: 020 7947 4300
Alastair Lukies, CEO
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Bobbie Hilliam
Tim Redfern
Canaccord Genuity Limited Tel: 020 7050 6500
Simon Bridges
Financial Dynamics Tel: 020 7831 3113
Haya Herbert-Burns / Charles Palmer
TAPPING IN TO MOBILE COMMERCE
The Mobile Money Network unveils vision to the retail industry
London 28 March 2011: Four months since inception, The Mobile Money Network (MMN) can today announce another major step towards realising its vision to put the mobile device at the heart of the consumer shopping experience. Sir Stuart Rose has been appointed Non-Executive Chairman and will give his first address at a major gathering of the UK's biggest retailers, banks and media companies on 29 March 2011. MMN can also announce the appointment of Lord Davies of Abersoch as a Non-Executive Director. Lord Davies is the former Minister of State for Trade Promotion and Investment, and former Chairman of Standard Chartered PLC.
The MMN event on 29 March will see MD John Milliken and Chairman Sir Stuart Rose announce the details of its first service, 'Simply Tap', a pioneering, common sense approach to buying products and services via a mobile phone. Simply Tap will enable consumers with any mobile phone, on any mobile network and with any bank to buy anything from the retailers signed up to the service, wherever they are.
Consumers will go through a one-off registration process that securely captures personal details, such as debit or credit card numbers and preferred delivery address. After registering, when a consumer sees a product they want in store, online or in any advert, they simply need to type the product code in to the Simply Tap service through the mobile app or send it via SMS and the product is then paid for and delivered using the saved details.
Simply Tap provides a number of key benefits including saving shoppers time when ordering products online, allowing retailers to sell products from traditional print advertising more effectively, and to extend the range of products they can promote in store for home delivery. This potential puts MMN at the centre of the next significant change in the way that people shop and discover products.
"The number of mobile subscribers across the globe has reached almost 5.5 billion with 750 million in Europe. This represents a massive commercial opportunity for retailers if they can take advantage of it," says Sir Stuart Rose, MMN Non Executive Chairman. "I am incredibly excited to be involved in the Mobile Money Network. It is a fresh concept set to act as a catalyst for three major industries - retail, banking and marketing. With Simply Tap, MMN is making the mobile a relevant, useful and fun part of an existing shopping experience. At a time when consumers are short of time but demanding instant gratification, this proposition delivers. The potential is huge and I look forward to the journey."
"Mobile Money Network is different as, from day one, we are bringing together businesses to collaborate and deliver a simple, unified and mass market proposition for consumers. We have the technology to enable more retailers to take advantage of the opportunity and provide consumers with a service they're calling out for," commented John Milliken, MD of Mobile Money Network.
The Mobile Money Network is a joint venture between Monitise, Best Buy Europe and Carphone Warehouse founder Charles Dunstone. The vision is to bring together the best in mobile payments, marketing and banking innovations, putting the mobile device at the heart of the consumer shopping experience. The Mobile Money Network is already in discussions with 17 of the top 20 UK high street retailers and many leading financial institutions about the forthcoming roll-out.
ENDS
For more information:
Nicola Savage at Speed
D +44 20 7842 3241
M +44 7739 338842
Notes to Editor:
About The Mobile Money Network
The Mobile Money Network (MMN) was founded by Charles Dunstone, the Founder of Carphone Warehouse, Monitise Plc and Best Buy Europe. The principal board members are Charles Dunstone, Monitise CEO, Alastair Lukies, Best Buy Europe CEO, Andrew Harrison with Sir Stuart Rose as Chairman. Former Monitise Commercial Director, John Milliken is MD of The Mobile Money Network.
The Mobile Money Network's capabilities bring together the best in mobile payments, mobile marketing and mobile banking innovations and put the mobile device at the heart of the consumer shopping experience.
The first service from MMN is Simply Tap. Simply Tap will allow consumers on any handset or with any operator or bank to buy anything from retailers signed up to the platform. Developed based on the Monitise secure technology platform, Simply Tap will allow shoppers topurchase anything using their preferred credit or debit card and products will be delivered to their chosen address at the touch of a mobile button.
http://www.mobilemoneynetwork.com/
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, 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, Best Buy, The Carphone Warehouse and First Eastern.
http://monitisegroup.com
About Charles Dunstone
Charles is the founder of Carphone Warehouse and chairman of Carphone Warehouse Group PLC. Charles led the growth of Carphone Warehouse both before and after its flotation on the London Stock Exchange in 2000 to become one of Europe's largest independent retailers of mobile phones. He was also instrumental in constructing Carphone Warehouse's transactions with Best Buy including the successful growth of Best Buy Mobile in the United States since 2006 and the Best Buy Joint Venture. Charles is also chairman of TalkTalk, chairman of The Prince's Trust and a non-executive director of The Daily Mail & General Trust Plc and Independent Media Distribution Plc.
About Best Buy Europe and The Carphone Warehouse
In 2006 Best Buy established a partnership with the Carphone Warehouse to bring its business model and mobile phone expertise to the US market under the banner 'Best Buy Mobile'. Two years later, Best Buy acquired 50% of the Carphone Warehouse's European and US retail interests for £1.1billion, creating Best Buy Europe.
The new venture is designed to accelerate the development of Carphone Warehouse's retail proposition and to introduce Best Buy stores across Europe, beginning in the UK in spring 2010. For more information go to www.bestbuy.co.uk.
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