MasterCard announced the intention to enter into a commercial agreement with Monitise plc. to accelerate the development and deployment of mobile wallets and digital payment solutions by financial institutions worldwide. MasterCard also intends to make a minority investment in Monitise.
Monitise provides solutions designed to help consumers bank anywhere, pay anyone and buy anything through mobile applications. The combination of MasterCard and Monitise’s complementary expertise in developing mobile platforms for commerce and banking is anticipated to result in additional innovative and secure solutions.
“For more than a decade, MasterCard has driven the development of mobile commerce – including the world’s first contactless and mobile payments solutions,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “Our partnership with Monitise builds upon a shared commitment to improve the mobile shopping experience today and into the future.”, according to the MasterCard press release.
Monitise works with more than 350 banks and financial institutions, merchant partners and payment processors including Royal Bank of Scotland, Lloyd’s Banking Group, U.S. Bank, HSBC, Telefónica and FIS, serving 28 million registered users worldwide. On an annualized basis, the company processes 3.5 billion transactions and the value of payments and transfers initiated by its technology platform is over $70 billion.
Banking 4.0 – „how was the experience for you”
„So many people are coming here to Bucharest, people that I see and interact on linkedin and now I get the change to meet them in person. It was like being to the Football World Cup but this was the World Cup on linkedin in payments and open banking.”
Many more interesting quotes in the video below:
