Mobile Banking Services: Standard Chartered Bank Relies on Monitise
- Standard Chartered Bank selected Monitise to develop all the mobile banking applications they propose to their customers: card account balances, funds transfers using accounts domiciled in other banks, mobile bill payment, ATM and branches location, m-commerce, etc.
- These different applications are compatible with over 700 mobile phones (Smartphones as well as basic mobile phones).
- This is the first launch of Monitise solutions in India, where cash payments represent almost 67% of the transactions and where the adoption of mobile devices could reach 100% by 2015.
- Visa Europe recently strengthened its strategic partnership with Monitise. In 2009, it acquired 14% of the mobile financial services specialist; Visa signed a second contract with VocaLink’s former subsidiary granting it an exclusive mobile banking licence. Visa Europe follows its fastened diversification strategy through external growth. The network aggregates innovative offers on mobile services and still focuses on the issue of payments. It intends to remain as attractive as possible to face financial institution’s customers. Visa Europe makes the difference when challenging its rival MasterCard which prefers talking non-banking institutions into joining its brand and network.