Monitise grows mobile money partnerships
Monitise, a U.K.-based provider of mobile banking and payment technology, has reported new business wins in Europe and the U.S. as well as a contract renewal.
The company is seeing interest in its mobile money technology and services from players in the Americas, Europe and Asia, according to Alastair Lukies, chief executive at Monitise Group, in a trading statement.
In the U.K, Monitise has set up a five-year mobile money partnership with a leading U.K. bank and financial services company, and has extended its commercial contract with a leading financial institution. Under the terms of the new U.K. business win, Monitise will design, build and manage new digital banking, payments and shopping services. The partnership has a contract value of several million pounds, Monitise said in the statement.
In line with Monitise's strategic focus on moving toward a user-generated business model, the new U.K. partnership includes provisions for revenue-sharing arising from retail offers generated via Monitise's mobile commerce network.
In its trading statement, Monitise reiterates its expectation of approximately 50 percent growth in revenue, and gross margin above 70 percent in the fiscal year to June 2014.
In Europe, Monitise is finalizing details on a contract to provide multi-language mobile point-of-sale services for a Nordic bank's small business and merchant customers.
In Asia, Monitise has launched its first Chinese-language mobile money service developed in partnership with mobile network operator PCCW-HKT, Bank of China (Hong Kong) and JETCO, an ATM network provider in Hong Kong.
"Collaborations like this show the value created by building a global ecosystem of partners and clients that can leverage our bank-grade Bank Anywhere, Pay Anyone and Buy Anything technology in ways that help them unlock the commercial benefits of mobile technology," Lee Cameron, Monitise's chief commercial officer, said.
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