Monitise continues global growth

Taking over: Monitise has 1.3 million customers in the UK and US and is aiming for Asia-Pacific markets next

Monitise is continuing with its global domination plans after smashing through its one million customer targets for 2009.

The Morse spin-off now has 1.3 million customers in the UK and US, and is setting its sights on the Asia-Pacific region after signing a deal with Hong Kong direct investment firm Far Eastern this week.

As a result of the deal, the first Monitise mobile banking services are expected to be available in Asia-Pacific through banks and financial institutions in the region next year.

Victor Chu, chairman of First Eastern, said: “We are excited to partner with Monitise in the Asia-Pacific region. This will be a fantastic growth opportunity for both First Eastern and Monitise in view of the vast market potential here for value-added services and products introduced by a proven mobile banking and payments platform.

“With First Eastern’s extensive network and investment expertise, I am confident that we will contribute significantly as Monitise rolls out its ambitious expansion plans across the Asian region.”

Closer to home, Monitise has also announced a strategic relationship with The Carphone Warehouse to create a "Mobile Money Network", which will deliver shopping services for consumers via their mobile phones.

The Mobile Money Network is set to launch in the UK in early 2010 from The Carphone Warehouse retail business, which has more than 800 UK outlets, before being rolled out in Europe and the US.

It will allow consumers to sign up to mobile banking services, buy goods and services, send money to friends, top up pre-paid and loyalty cards and top up mobile phone credit via a Mobile App on their handset.

Andrew Harrison, chief executive of The Carphone Warehouse, said: “We are delighted with how our alliance with Monitise is developing. It is enabling Visa to optimise the development and user experience of Visa mobile applications for a broad range of mobile devices in the market today.”

Alastair Lukies, chief executive of Monitise, said the firm's momentum was growing.

“These new partnerships, together with the investments and full support of our existing strategic shareholders, validate our market-leading status and position us very well to take the business through to profitability.

“People everywhere will be able do their banking, shopping and make payments from their mobiles as easily as they can talk and text.

“After years of hard work building the platform for Mobile Money, it is good to see it come of age and begin to reach out to the mass market globally.”

Finally, Monitise has announced that it is set to rebrand Monilink as Monitise, after taking 100 per cent ownership of its former joint venture with Vocalink earlier this year.