M-banking: Visa Granted Exclusive Monitise Licence
Visa Europe strengthens its strategic partnership with Monitise. In 2009, Visa acquired a 14% stake in the mobile financial services specialist. This second, more specific, agreement with the former VocaLink subsidiary now provides Visa with an exclusive mobile banking licence in Europe.
Visa Europe members will be proposed contactless mobile payment solutions as well as P2P payments services and an alert system. This offer will soon be further deepened with account, customer loyalty, and mobile payment applications management (in e-commerce).
They will be distributed on Visa Europe’s recently completed interbank processing network platform, which has cost half a billion Euros.
Even though it is independent from its parent company Visa Inc, Visa
Europe follows a likewise quickened diversification strategy through
external growth. While still focusing on payments, Visa aggregates
innovative offers in this field. The aim is to remain as attractive as
possible to its main and historical customers, the financial
This positioning slightly differs from MasterCard’s. Generally
considered more innovative and commercially aggressive, the rival is
also more actively proposing non-bank institutions to join in.