Visa Inks $13 Million Deal With Monitise For Mobile Payments
-
Comments (View)
- Text Size: A A
-
Email
-
Share
London-based Monitise, a mobile banking company, said it has signed a five-year deal with Visa worth $13 million. As part of the deal, Visa will take a 14.4 percent stake in the company and have the option of taking a seat on its board, reports the WSJ. In addition to the contract, Visa will pay ongoing license, service and development fees. Release.
Monitise will be responsible for helping Visa build out a suite of mobile services, ranging from payments to money transfer, alerts and mobile marketing. The first products will be available to Visa users by early next year. While Monitise just landed a deal with one of the largest bankers in the world, it said revenues for the year ended June 30 would be slightly lower than forecasts. Still, revenues will jump 80 percent over last year. Analysts estimate Monitise’s revenue to be around GBP3 million or $4.9 million, according to FactSet.
Last.fm Songs
Social Standing
Which media brands are getting a lift from Tweeters and bloggers right now -- and which are getting panned?
Show Me: