Visa Europe & Monitise Partnership Agreement

Visa Europe and Monitise sign partnership agreement to develop mobile payment services

London, 3 February 2011 - Visa Europe has signed a partnership agreement with Monitise plc to develop and supply mobile payments services for Visa Europe's member banks and financial institutions across Europe.

Following Visa Europe's six year build and €0.5 billion investment in a new European inter-bank processing service, this agreement will leverage this platform and accelerate the development and commercialisation of large scale mobile payments and services.

The exclusive partnership gives Visa Europe a licence to Monitise's world-leading mobile technology. Monitise will act as an advanced development engine for Visa Europe, enabling it to provide its member banks with a rapid go to market mobile payments service in Europe. Initially this will include the development of Visa Europe's mobile platform for mobile contactless payments, mobile alerts and person to person payments followed by account management, loyalty applications and mobile e-commerce.

Peter Ayliffe, Visa Europe Chief Executive said, "We've created an inter-bank processing service without equal in Europe. This agreement now places us in an undisputed position to deliver mobile services with incredible scale and processing efficiency in the mobile arena, enabling Visa Europe's member banks to offer mobile payment services direct to their customers - consumers and retailers."

Alastair Lukies, Chief Executive of Monitise plc, said: "This deal is a major step forward in Monitise's relationship with Visa Europe. Mobile banking and payments users with smartphones check their accounts on average 16-18 times a month, three times more than via internet banking. We are honoured by this exclusive partnership with Visa Europe, which will help consumers benefit from growing mobile money innovation."

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About Visa Europe

In Europe, there are 419 million Visa debit, credit and commercial cards. In the 12 months ending September 2010 those cards were used to make purchases and cash withdrawals to the value of €1.5 trillion. 12.5% of consumer spending at point of sale in Europe is with a Visa card, and more than 70% of that is on Visa debit cards.

Visa Europe is owned and operated by more than 4,000 European member banks and was incorporated in July 2004. In October 2007, Visa Europe became independent of the new global Visa Inc., with an exclusive, irrevocable and perpetual licence in Europe. As a dedicated European payment system it is able to respond quickly to the specific market needs of European banks and their customers - cardholders and retailers - and to meet the European Commission's objective to create a true internal market for payments. 

Visa enjoys unsurpassed acceptance around the world. In addition, Visa/PLUS is one of the world's largest global ATM networks, offering cash access in local currency in over 200 countries.

For more information, visit www.visaeurope.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 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, US Bank, The Carphone Warehouse and First Eastern.

For more information visit www.monitisegroup.com

ENQUIRIES:

Monitise Group Tel: 020 7947 4300

Alastair Lukies, CEO

John Brougham, CFO

Tom Spurgeon, Finance Director and Company Secretary

Gavin Haycock, Communications Director

Evolution Securities Limited (NOMAD) Tel: 020 7071 4300

Bobbie Hilliam

Tim Redfern

Canaccord Genuity Limited Tel: 020 7050 6500

Simon Bridges

Financial Dynamics Tel: 020 7831 3113

Juliet Clarke / Haya Herbert-Burns/Tracey Bowditch