Today Visa announced it will pull out of Monitise and take development of mobile in-house in a surprising move that comes only weeks after Apple announced a deal with Visa. monitise shares tanked by over 11% as I write due to the obvious conclusion that mobile money is going big time and Moni is being left out.
Monitise has issued several statements trying to calm fears but a lot of investors clearly don't believe this is good. My own take is that Monitise has spent literally years building safe reliable bank friendly applications that are increasingly being used by large banks world wide. I am not clear that Apple will displace them or if the Monitise systems will still be needed. Monitise needs to come out with a road map that shows their value chain in the new Apple world.
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