Monitise, Telefónica Forge Partnership
LONDON -- Monitise plc (LSE: MONI) announces it has become the preferred Mobile Money technology partner for Telefónica Digital to develop and manage new and existing mobile payment and commerce services for its customers.
The agreement comes as the strategic and commercial merits of Monitise’s proven and established platform technology enabling consumers to bank, pay and buy via mobile are recognised by an increasing range of businesses keen to take advantage of the worldwide Mobile Money opportunity.
IDC Financial Insights forecasts that more than a trillion dollars will be spent around the world using mobile devices by 2017.
Under the terms of the agreement, Monitise will complement existing technology partners, taking a lead role in the development of a global technology platform to support payment and mobile commerce services. The initial focus of the partnership will be in the UK.