Visa acquires $13 million stake in Monitise

Mobile banking solutions firm Monitise announced a five-year global strategic alliance agreement with payment and credit services giant Visa to develop a suite of mobile services, including payments, money transfers, transaction alerts and marketing offers. Per terms of the deal, Visa will acquire a 14.4 percent stake in Monitise valued at $13 million. Monitise services enable customers of multiple banks and mobile operators to perform banking and payment transactions directly from their handsets--the firm offers live services in the U.S. and the U.K. in partnership with Metavante and VocaLink. Its banking partners include HSBC, Lloyds TSB and Royal Bank of Scotland, while carrier partners include Vodafone, Orange, O2, T-Mobile and 3.

For more on the Monitise/Visa deal:
- read this release

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