Visa and Monitise sign mobile payment deal

MONITISE has signed an agreement to provide mobile payment services for Visa’s member banks and financial institutions across Europe.

The new services will include contactless payments in store, peer-to-peer payments and mobile alerts.

The partnership gives Visa Europe a licence to Monitise’s industry-leading mobile technology. Bob Liao, an analyst with Canaccord Genuity, says the deal “opens Monitise’s market to an additional 420m Visa European cardholders in a region that is relatively receptive to mobile banking and payments.”

Peter Ayliffe, Visa Europe chief executive, said: “This agreement now places us in an undisputed position to deliver mobile services with incredible scale and processing efficiency.”

Mobile payment services have been trialled in Europe and are expected to be showcased in the UK in time for the 2012 Olympics. Monitise’s shares closed up 4.7 per cent at 22.3p.