Tag: monitise

MasterCard and Monitise come together to create new mobile payments platform

| March 28, 2014

Partnership aims to develop a mobile commerce solution for financial institutions

MasterCard has announced that it has partnered with Monitise, makers of a popular mobile banking and payments platform. Together, the two companies will work to deliver a new mobile payments service that is designed to be used by financial institutions throughout the world. Financial institutions are beginning to feel pressure to engage mobile consumers more as these consumers become more reliant on their mobile devices. Without providing these consumers with mobile-centric services, they may seek out other institutions that accommodate their interests more effectively.

Financial institutions are feeling the need to accommodate the interests of mobile-centric consumers

Both MasterCard and Monitise have extensive experience in the mobile commerce field. Both companies currently have mobile commerce platforms that are available to the public and these platforms are used throughout the world. The new platform the companies are developing through their partnership is expected to have higher levels of security in order to help financial institutions address some of the concerns that consumers have regarding mobile commerce.

Security remains a major issue in the mobile commerce field, but consumers are still willing to shop from their mobile devices

Mobile Payments Partnership - MasterCard & MonitiseSecurity has been a problem in the mobile commerce field for some time. Because mobile commerce deals in the trafficking of financial information, it has become a very popular target for hackers and other malicious groups. Consumers have often criticized the mobile commerce platforms they have used in the past as not being secure enough. Several high profile cyber attacks on large retailers have also called into question whether the mobile commerce sector is taking security as seriously as it should.

Financial institutions that do not accommodate mobile consumers could become irrelevant in the future

While consumers are concerned for the security of their financial information, security concerns have done little to stop them from actually participating in mobile payments. The demand for convenient mobile commerce platforms has been growing at a rapid pace as consumers become more comfortable with the concept of mobile payments. Financial institutions that are unable or unwilling to accommodate this demand may find themselves becoming increasingly irrelevant to mobile-centric consumers.

Monitise secures deal with UK financial organiztaions

| January 6, 2014

Mobile payments firm launches new partnerships

Monitise, a developer of mobile payments technology, has announced that it has secured a partnership with a leading bank in the United Kingdom as well as extending a commercial contract with one of the country’s leading financial organizations. The company notes that the demand for mobile payments technology has been growing dramatically over the past year. With 2013 over, many retailers and other businesses have been exposed to the benefits of mobile commerce and these organizations are showing their eagerness to embrace the mobile space in 2014.

Mobile commerce continues to grow

Mobile payments are not only growing more popular among businesses. Consumers have become quite interested in mobile commerce and the demand for new services is beginning to reach new heights. Companies are beginning to feel the pressure to accommodate consumer demand or risk losing ground to their competitors that are more mobile-conscious. Mobile commerce is growing at a quick pace due to the importance smartphones and tablets have come to play in the daily lives of consumers.

Monitise has high hopes for 2014 and beyond

UK Mobile Payments PartnershipMonitise expects to see its revenue increase by 50% in 2014 as it forms new partnerships in Europe and the U.S. The firm expects 2014 and 2015 to be major years in terms of mobile commerce, but also notes that it will likely see fierce competition emerge onto the scene. Companies like Square, which currently only operates in North America, have established a strong presence and major retail organizations like eBay and Alibaba are beginning to take mobile payments more seriously. While Monitise is behind the technology that is used by several large brands interested in mobile commerce, it is just one among several similar firms that are vying for attention.

Uncertainty lingers in the mobile commerce space

The future of mobile commerce is often painted as bright and fortuitous, but there are still many uncertainties and risks that exist in the sector. Security threats abound as malicious groups become more focused on mobile commerce and stealing financial information from businesses and consumers alike. The capabilities of mobile commerce platforms and how they provide a positive experience to consumers is also called into question quite frequently as retailers and other groups continue to struggle with their adaptation to the mobile space.