06 December 2016
Visit aciworldwide.com

Visa Europe takes stake in Mobile Money Network

07 March 2012  |  8729 views  |  0 iphone apps on screen

Visa Europe is set to take a 15% equity stake in Mobile Money Network (MMN), a joint venture between Monitise, retailer Best Buy Europe and Carphone Warehouse founder Charles Dunstone.

MMN's Simply Tap mobile checkout technology - which went live with several UK retailers late last year - lets customers use their handsets to buy through adverts, direct marketing and Web sites.

Customers download a free iPhone or Android app and then go through a one-off registration process, providing their card details and delivery address. They can then make purchases at participating retailers by entering the Simply Tap codes placed by the firms in stores, in print advertising and on Web sites.

With former Marks & Spencer chief Stuart Rose as chairman, MMN has signed up Carphone Warehouse and Best Buy Europe, HMV, Thorntons and Goldsmith, among others to the system.

Visa Europe - which already holds a stake in Monitise - says that it will now use its massive presence in the UK, where £1 in every £3 is spent on one of its cards, to bring Simply Tap to the mass market. The card giant will also work with MMN to implement a number of unspecified m-commerce initiatives this year, says a statement.

Peter Ayliffe, CEO, Visa Europe says: "By 2020, we predict that more than half of all our transactions will be carried out on a mobile device. Our investment in the Mobile Money Network will support our aim to deliver a wide range of secure and reliable mobile payment services that help our members tap into the potential of m-commerce."

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

Visa mobile pre-paid accounts integrated into Orange Money service

Visa mobile pre-paid accounts integrated into Orange Money service

29 February 2012  |  7020 views  |  0 comments
Vodafone and Visa team on NFC m-payments

Vodafone and Visa team on NFC m-payments

27 February 2012  |  12850 views  |  0 comments
Visa and Monitise partner HDFC on Indian mobile money

Visa and Monitise partner HDFC on Indian mobile money

22 February 2012  |  11692 views  |  0 comments
Monitise considers Nasdaq listing - FT

Monitise considers Nasdaq listing - FT

14 February 2012  |  4998 views  |  0 comments
Visa launches mobile services for US financial institutions

Visa launches mobile services for US financial institutions

09 February 2012  |  7915 views  |  0 comments
Visa Europe launches UK offers portal

Visa Europe launches UK offers portal

12 December 2011  |  7844 views  |  0 comments
Monitise and Best Buy Europe JV launches mobile checkout service

Monitise and Best Buy Europe JV launches mobile checkout service

04 November 2011  |  7862 views  |  0 comments
Visa Europe invests £24.7m in Monitise

Visa Europe invests £24.7m in Monitise

31 October 2011  |  11715 views  |  0 comments
Monitise forms mobile money network with Best Buy Europe

Monitise forms mobile money network with Best Buy Europe

16 November 2010  |  8870 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  |  11477 views  |  1 comments
Monitise and Carphone Warehouse form m-banking alliance

Monitise and Carphone Warehouse form m-banking alliance

19 March 2009  |  9437 views  |  0 comments

Related company news

 

Related blogs

Create a blog about this story (membership required)
Visit contisgroup.comVisit aciworldwide.comVisit capgemini.com

Who is commenting?

A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...
A Finextra member Finextra Member Commented on: Guesswork alone can cr...

Top topics

Most viewed Most shared
Guesswork alone can crack Visa card security - Newcastle UniversityGuesswork alone can crack Visa card securi...
6845 views 12 comments | 15 tweets | 26 linkedin
OCC to offer fintech firms bank charter statusOCC to offer fintech firms bank charter st...
6423 views comments | 23 tweets | 15 linkedin
Bank CEOs fret about ROI as startups drive IT arms raceBank CEOs fret about ROI as startups drive...
6211 views comments | 17 tweets | 21 linkedin
Amazon signs up tech firms to financial services cloud programmeAmazon signs up tech firms to financial se...
6023 views comments | 14 tweets | 15 linkedin
Big tech policy group calls on Trump to promote fintech innovationBig tech policy group calls on Trump to pr...
5393 views comments | 22 tweets | 11 linkedin

Featured job

to Six-Figure Base, Bonus, Benefits
London, UK

Find your next job