Monitise today announced a major deal for its Movida joint venture with VISA, to connect ICICI’s customers to Movida’s mobile payments service. ICICI is India’s largest private sector bank and this deal for shows again the close links between Monitise and VISA. Visa Europe is a major shareholder in Monitise.
The service will enable access to payment services for ICICI customers by linking their mobile phone number to their payment card and their bank account, and will not be dependent on internet access.
This deal is another example of Monitise’s recent progress in extending its influence in the mobile payments sector (we reported on the Telefonica deal earlier this month). As such Monitise is building a strong position and will be a key player in building deals between the many different stakeholders in this increasingly important growth market.