Morse spin-off Monitise has registered its one millionth customer after take up for its services rocketed in the last two months.

The firm, which partners with the majority of UK high street banks and also has a joint venture with FIS in the US, is now handling transactions at the rate of 25 million a year.

Customer uptake is growing across its range of services, which include activating debit cards, texting for a balance and alerts to stop people getting overdrawn.

Alastair Lukies, chief executive of Monitise, said: “I’m very pleased to say that Monitise’s technology and software is fast becoming the mobile banking and payments platform of choice for some of the world’s largest banks and financial institutions. Through them we are changing the way people interact with their bank and manage their money.

“The great news for all of our million customers is that by registering just once with Monitise’s system, via their bank, they are immediately ready to adopt the next generation of banking and payments services as new technology and offers are released.”

A recent global survey by CGAP predicted that the mobile payments market could be worth as much as £365bn by 2013, with 110 million users in Europe alone by 2014.