India

Monitise has a 50/50 Joint Venture agreement with Visa to develop mobile financial services in India.

The joint venture will give providers of financial services in India a platform to accelerate the delivery of mobile financial services such as banking, bill payments, ticketing services, mobile top-up and others to consumers.

India is the world’s second largest mobile market with an estimated 584 million mobile phone subscriptions as at 31 March 2010.

Monitise’s open ecosystem approach means that partner financial institutions, network operators and merchants can all be connected, to deliver high quality, secure mobile money management and payments.

Resources are now deployed and discussions are well in hand with a number of high profile partners to enable launch of the first services in the second half of 2010.

For more information contact Justin McAuley at email address or on 020 7947 4303.