01 October 2016
Business Intelligence: A Tech Revolution for the Evolution in Compliance

Monitise forms mobile money network with Best Buy Europe

16 November 2010  |  8809 views  |  0 Fingers on smartphone keypad

Monitise has formed a UK mobile money network joint venture with retailer Best Buy Europe and Carphone Warehouse founder Charles Dunstone.

Monitise first inked a deal with Carphone Warehouse last December, with the pair vowing to establish a network to extend mobile banking and payments into the world of retail.

The network will now be launched next year, using Monitise's technology and the Charles Dunstone's "extensive retail experience" to offer a "one-stop shop" for mobile services, covering shopping, banking and marketing.

Monitise holds a 40% stake in the venture, with Best Buy Europe, itself a recent established JV between the US electronics retailer and Carphone Warehouse, also making an investment and becoming the first retail partner for the network.

Says Dunstone: "Every year we see hundreds of exciting ideas in the space of mobile shopping, banking, payments and marketing, but what is required is a central, independent and trusted network to make it come alive. We believe we have the track record to play this role."

Andrew Harrison, COO, Best Buy Europe, adds: "Retailers need to be at the forefront of how consumers are using technology. And so we are really excited to be the first retail partner of the Mobile Money Network. We have 800 stores in the UK but can now open up another 60m plus mobile phone based virtual storefronts through this venture."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

Monitise FY losses widen despite revenue surge

Monitise FY losses widen despite revenue surge

25 August 2010  |  7799 views  |  0 comments
Monitise to raise £32m; extends Visa deal

Monitise to raise £32m; extends Visa deal

13 July 2010  |  10546 views  |  0 comments
Monitise prepares for growth with new investment and partnerships

Monitise prepares for growth with new investment and partnerships

17 December 2009  |  9613 views  |  0 comments
Monitise sales surge; pledges to double revenues in FY10

Monitise sales surge; pledges to double revenues in FY10

25 August 2009  |  6294 views  |  0 comments
Visa signs $13 million deal and takes minority stake in Monitise

Visa signs $13 million deal and takes minority stake in Monitise

30 June 2009  |  11424 views  |  1 comments
Monitise and Carphone Warehouse form m-banking alliance

Monitise and Carphone Warehouse form m-banking alliance

19 March 2009  |  9382 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit VocaLink.com Visit www.abe-eba.eu

Top topics

Most viewed Most shared
Ripple rudely gatecrashes Sibos partyRipple rudely gatecrashes Sibos party
11092 views comments | 35 tweets | 33 linkedin
BNP Paribas is working with clients on blockchain deploymentBNP Paribas is working with clients on blo...
7972 views comments | 15 tweets | 31 linkedin
Banks ready for real-world blockchainBanks ready for real-world blockchain
7059 views comments | 22 tweets | 29 linkedin
PayPal and Lenovo team on biometric authentication for laptopsPayPal and Lenovo team on biometric authen...
6818 views comments | 13 tweets | 16 linkedin
Distributed ledger technology could damage financial market integration - ECBDistributed ledger technology could damage...
6286 views comments | 15 tweets | 10 linkedin

Featured job

Find your next job