Thursday, March 7, 2013

Visa Inks $59M+ Deal To Extend Mobile Money Partnership With Monitise In Europe

How Visa Plans To Dominate Mobile Payments, Create The Digital Wallet And More | TechCrunchVisa believes that by 2020 more than half of all payments made in Europe will be done through mobile devices, so it is continuing to put more investment into how it will remain a central part of those transactions. In the latest development, mobile money specialist Monitise has announced an extended deal in which Visa Europe will license all of Monitise's technology in an agreement it says will bring in a minimum of ?45 million ($59 million) in the next three years, "with greater revenues as certain user generated thresholds are achieved," a spokesperson says. Visa, a minority shareholder in the mobile company, is also taking a further investment in Monitise of about ?15.6 million ($23.5 million), plus options for more investment.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/ejm10mkvPL8/

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