VISA Launches Mobile Payment Network

Visa Launches Mobile Payment Network

Now, this one is new. After announcing last week that they are launching Moile Payment Services in Peru, VISA has signed $16 million a deal with Monitise to develop a global mobile payment network. The system will enable mobile phone users to securely pay with Visa’s remotely.

The credit giant has taken a 14.4 % stake in the mobile banking company Monitise.

This move comes as the Global System for Mobile communicators Association released figures showing the number of mobile phone users has reached four billion and is expected to grow to six billion by 2013.

The five-year agreement aims to pair Visa’s brand and reach with Monitise’s platform and toolkit.

Tags: global service, mbanking, mobile payment, monitise, visa

This entry was posted on Tuesday, July 7th, 2009 at 10:02 pm and is filed under General Mobile News, Mobile banking and payments. You can follow any responses to this entry through the RSS 2.0 feed.