December 31st 2013. Monitise has announced that it is seeing continued momentum across the Group with a number of new business wins in both Europe and the USA, as well as a contract renewal. In particular, Monitise has entered into a five-year Mobile Money partnership with a leading UK bank and financial services company and also renewed and extended its commercial contract with a leading financial institution. Under the terms of the new UK business win, Monitise will design, build, and manage new digital banking, payments and shopping services. The partnership has a contract value of several million pounds.
In line with Monitise’s strategic focus on moving further towards a user-generated business model, the new partnership includes provisions for revenue sharing arising from retail offers generated via the Group’s growing mobile commerce network.
The commercial activity for the UK-based global Mobile Money business reflects increasing corporate and consumer interest in digital technology services and products that enable people to securely and easily bank, pay and buy on the move via their mobile phones and tablets.
On the back of this momentum, Monitise reiterates its expectation of approximately 50 per cent growth in revenue, and gross margin above 70 per cent in the fiscal year to June 2014.
“Demand for Mobile Money services continues to grow rapidly and we are seeing increasing interest in our technology and services from leading players in the Americas, Europe and Asia,” said Monitise Group CEO, Alastair Lukies.
“There is no doubt in our minds that 2014 and 2015 will see an intensifying battle as players position themselves to control and own the business infrastructure underpinning Mobile Money technology.”
Amid this, Monitise will continue, with the support of its partners, to invest strategically to ensure that the ecosystem is ideally balanced between interoperability, security and convenience and that at the heart of this, consumers benefit from the innovation being created in an inherently trustworthy way,” Lukies added.
Commenting on the new contract, Monitise’s CCO, Lee Cameron, said, “We are delighted to be supporting more leading financial services companies in developing and delivering Mobile Money services for their customers.”
“Collaborations like this show the value created by building a global ecosystem of partners and clients that can leverage our bank-grade Bank Anywhere, Pay Anyone and Buy Anything technology in ways that help them unlock the commercial benefits of mobile technology.”
In Europe, Monitise is finalising details on a contract to provide multi-language mobile Point of Sale (mPOS) services for a Nordic bank’s small business and merchant customers.
In Asia, Monitise is seeing increasing interest in its payments and commerce technology following the recent launch of its first Chinese-language Mobile Money service developed in partnership with mobile network operator PCCW-HKT, Bank of China (Hong Kong) and JETCO, an ATM network provider in Hong Kong.
Monitise’s services run across multiple smartphone operating systems, including Android, Apple and BlackBerry, ensuring availability on the widest range of device models.
The Group’s Bank Anywhere products include SMS banking, card management, balance enquiries, messaging alerts, mobile image capture, ATM and branch locators, transaction histories, account transfers and more.
The Pay Anyone product offering features mPOS, proximity payments, mobile phone top-up, peer-to-peer payments, travel money, charity donations, mobile stored value accounts and international remittances.
The Group’s Buy Anything products include mobile wallets, instant mobile checkout, bank specific loyalty and offers, bank cross-sell and up-sell and gift cards in the form of digital coupons and vouchers.
Cameron added, “The Monitise services and products we develop for our partners are designed to enable people to securely and intuitively manage their money on the move in our increasingly connected digital world and to help banks defend their existing customer relationships and to generate new revenue streams from mobile commerce.”
Monitise (LSE: MONI) is a world leader in Mobile Money – banking, paying and buying with a mobile device. Leading banks, payments companies, retailers and mobile networks utilise Monitise’s technology platforms and services to securely connect people with their money. Already 24 million consumers benefit from our patented technology to ‘bank anywhere’, ‘pay anyone’ and ‘buy anything’, accounting for $50 billion of payments, purchases and transfers annually.