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Monitise Extends Leadership in Mobile Money Marketplace, Triples Registered Global Users

Mobile Commerce Insider Featured Article

February 27, 2013

Monitise Extends Leadership in Mobile Money Marketplace, Triples Registered Global Users

By Jody Ray Bennett
TMCnet Contributing Writer

Monitise plc, one of the most successful technology and services companies, will be speaking at the Mobile World Congress (News - Alert) at Barcelona in 2013. Within the past year, Monitise has tripled the value of live transactions, payments and transfers, and registered users, achieving an all-time peak for itself in each category. 

Compared to $10bn just one year ago, the value of payments and transfers initiated via the Monitise Enterprise Platform has risen to more than $31bn on an annual basis. The mobile money company has also increased its amount of transactions made from 0.48bn in February 2012, to 2bn as of today. North America is considered by Monitise as a significant market due to its 10 million direct registered end users which live there.

Group chief executive for Monitise, Alastair Lukies said, “Our growth over the past year is a clear indicator of the value we deliver for our clients and their customers. We’re deeply committed to delivering Mobile Money solutions that translate into customer acquisition and retention, reduced costs and new revenue opportunities for banks in the US, Europe, and around the world.”

In 2012, Montise joined with Intuit (News - Alert) to expand mobile customers. According to a December 2012 report, the two companies joined together to create the Mint app. The companies came together “to forge a strategic alliance focused on delivering Mint to financial institutions through Monitise's Enterprise technology platform.”

Lisa Stanton, EVP payments, Monitise said, “As our business continues to build its momentum, we’re delighted to be joining Visa In Barcelona at Mobile World Congress to discuss the role mobile is playing in shaping the future of payments.”

Edited by Brooke Neuman

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