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Visa, Fundamo acquisition drives mobile financial inclusion in key geographic markets – Mobile Commerce Daily – Payments

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Global payments franchise Visa is acquiring Fundamo to accelerate delivery of mobile financial services to consumers worldwide.

According to Visa, the acquisition is part of its global strategy to enable the next generation of payments services.

Additionally, Visa signed an agreement with Monitise to expand delivery of mobile financial services to banked Visa account holders.

“Visa partnering with Fundamo and Monitise is a sign that they’re being aggressive with their strategy on mobile banking and devices,” said Neil Strother, Kirkland, WA.-based mobile practice director at ABI Research.

Visa is a global payments company that connects consumers, businesses, financial institutions and governments in more than 200 countries and territories to fast, secure and reliable digital currency.

Fundamo is a platform provider of mobile financial services for mobile network operators and financial institutions in developing economies.

Monitise enables financial institutions and other service providers to offer a wide range of mobile banking and payments services to their customers.

via Visa, Fundamo acquisition drives mobile financial inclusion in key geographic markets – Mobile Commerce Daily – Payments.

Written by Kees Winkel

June 10, 2011 at 11:50

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