Visa Europe and mobile payments company Monitise announced their extended deal for three years. This deal will allow Visa Europe to license all of Monitise’s technology and is expected to bring in a minimum of €45 million ($59 million) in the next three years . The chief commercial officer of Monitise Lee Cameron tells that their technology has been designed with one clear purpose: to help consumers bank anywhere, pay anyone and buy anything from their mobile.
This new deal shows Visa’s vision for mobile. Having 7.5% of the shares in Monitise via an investment that forms part of its strategy to deliver increased value for financial institutions and consumers through enabling and supporting mobile payments, Visa believes that by 2020 more than half of all payments made in Europe will be done through mobile devices, so it is continuing to put more investment into how it will remain a central part of those transactions.
It seems the mobile technology will continue to change how we get information, how we contact, how we choose and how we buy.