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Monitise unveils global mobile money platform

14 October 2010  |  3808 views  |  0 Source: Monitise

Monitise, the global leader in Mobile Money solutions, today unveils its enhanced technology platform which incorporates a range of mobile banking and payment services to deliver fast, secure financial management by mobile phone across the world.

The platform enables financial institutions, mobile phone networks, service providers, payment companies and processors to offer a wide variety of Mobile Money services in both developed and emerging markets.

The platform offers the following products:
 Monitise Mobile Wallet
o setting up a virtual wallet on a mobile handset to enable mobile payments and commerce for people without bank accounts, and managing the associated agent networks
 Monitise Mobile Payments and Shopping
o enabling customers of retailers, transport companies and other service providers to choose and buy products and services using their mobile
 Monitise Mobile Stock Trading
o providing people with a full range of secure trading services for shares, currencies etc
 Monitise Mobile Account Manager
o allowing people to activate their credit, debit and prepaid cards using their mobile, and to receive service notifications
 Monitise Mobile Banking
o providing mobile money management services such as balance-on-demand and account alerts to customers of banks and card issuers
o enabling people to make payments, account-to-account or mobile-to-mobile,
o providing a personalised service range including loyalty, offers and authentication

The technology behind the product set is Monitise's new integrated Monitise Globe technology platform which underpins Monitise's ability to deliver long term, sustainable solutions for mobile banking and payments worldwide.

Monitise Globe enables clients and partners to offer services by text, mobile app, mobile browser and USSD, operating on over 2700 different types of handset. It is also already compatible with the next generation of 'wave and pay' payments from the handset.

Monitise's integrated technology platform ensures that people only have to sign-up once to get acceople only have to sign-up onconly have to sign-up once to get access to this wide range of products, and that each Monitise partner can develop tailor made mobile money products to meet their particular needs.

Alastair Lukies, chief executive and co-founder of Monitise, said; "We are honoured to have world-renowned financial organisations as clients and partners and can now offer them a truly comprehensive product set.

"The world of Mobile Money is fundamentally about secure, robust and integrated technology and open, collaborative networks.

"Whether the need is for a balance on demand for shoppers in Cincinnati, smartphone apps to enable instant payments for people in Manchester, a Hong Kong taxi driver buying some shares, or paying bills for unbanked consumers, Monitise delivers."

Monitise launched its first live products in 2006 and now delivers over 120 million transactions a year to millions of users worldwide.

Mr Lukies continued: "The growth of Monitise - and of managing money by mobile phone - continues at pace and we are proud of our achievements so far."

The new product range sets new standards for mobile financial management and will be available across all Monitise's markets globally, including the UK, Europe, USA, Asia Pacific, India and Africa.

The rapid growth of smartphones has seen a significant increase in Mobile Money usage, with smartphone customers transacting through their Monitise mobile app three times more for services such as balance checks, than people who use internet banking. Monitise has already deployed iPhone apps for 12 banks in the USA and Europe.

Monitise works with hundreds of financial institutions in the UK, Europe and the USA including such blue-chip companies as HSBC, Royal Bank of Scotland Group, Standard Chartered Bank and US Bank.

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