Monitise share price jumps as firm agrees IBM partnership

Oliver Smith
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Shares in Monitise jumped 4.1 per cent yesterday to close up at 44p (Source: Getty Images)
Mobile payments firm Monitise yesterday announced it has expanded its partnership with US business giant IBM to deploy new mobile banking, payments and commerce solutions.

Shares in Monitise jumped 4.1 per cent yesterday to close up at 44p.

The deal combines IBM’s financial services and retail industry expertise with Monitise’s mobile banking and payments capabilities.

“Mobile is increasingly becoming the primary way for us to bank, pay and buy. Central to our strategy and collaborations is a drive to enable the businesses we work with to adopt solutions that help them engage more effectively with existing customers and unlock new commercial opportunities,” said Monitise chief executive Alastair Lukies.

“At a time when money is becoming more digitised, this strategic alliance with IBM will support financial institutions across the world in developing effective cloud-based strategies that make a real difference to consumers' lives.”

On Wednesday last week IBM announced a partnership with Apple to begin selling iPhones and iPads into enterprises.

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