Monitise joins forces with Carphone Warehouse
Shares in AIM-listed mobile banking and payments firm Monitise powered ahead after it said it is joining forces with Carphone Warehouse to start a mobile money scheme using a pre-pay card.
The deal, which also includes software group Metavante, will "see the introduction of a Carphone Warehouse pre-pay card, managed directly from the mobile phone, that can be used to shop in millions of outlets worldwide," said Monitise in a company statement.
The service will include full mobile management, similar to that used by customers of many of the UK's major banks to manage their money on the move, it added.
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Frank Martire, president and chief executive officer of Metavante Corporation, haled pre-pay cards as a "revolution in consumer finance."
"In the United States we already process over 80 million payment cards for consumers through a whole range of distribution partners,' Martire said.
Pre-pay card owners "will be able to check the balance, view recent transactions and even move money onto and off the card using their mobile phone 24 hours a day, seven days a week." said Carphone Warehouse chief executive officer, Andrew Harrison.
