LONDON - Monitise plc (LSE: MONI) welcomes the announcement that Visa Europe intends to take a 15% stake in its joint venture, the Mobile Money Network (MMN), the UK's leading enabler of mobile commerce and payments services for retailers.
MMN, with its Simply Tap instant mobile checkout service, is powered by the Monitise Enterprise Platform. The network is working with a large number of retailers as it brings together banks, advertisers and media owners to give consumers a simple way to shop using their mobile phone.
Commenting on today's announcement, Monitise Group Chief Executive Alastair Lukies said: "We are delighted by Visa Europe's investment in the Mobile Money Network. The strategic endorsement by the world's largest payments brand comes at an incredibly exciting time. Like Monitise, Visa is working with leading players to ensure that future mobile payment technologies are as easy, simple and secure as card-based transactions are today."
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