Visa Europe and Monitise team on mobile payments

Visa Europe and Monitise team on mobile payments

Visa Europe has inked a deal with Monitise that will see the pair hawk mobile payment services to its member banks.

Visa acquired a 14.4% stake in UK vendor Monitise in 2009 and the pair have a strategic development deal.

The new exclusive agreement gives Visa Europe a licence to Monitise's mobile technology, helping the card giant provide its member banks with a rapid go to market offering.

Initially they will work on mobile contactless and person-to-person payments as well as alerts, followed by account management, loyalty applications and mobile e-commerce.

Visa Europe hopes the services will also benefit from its recently completed, EUR500 million, inter-bank processing platform, accelerating the development and commercialisation of m-payments.

Peter Ayliffe, CEO, Visa Europe, says: "This agreement now places us in an undisputed position to deliver mobile services with incredible scale and processing efficiency in the mobile arena, enabling Visa Europe's member banks to offer mobile payment services direct to their customers - consumers and retailers."

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