Mobile Payments

Monitise 2013 full-year revenue soars – report

Wednesday 24 July 2013 | 06:55 AM CET

UK-based mobile financial technology company Monitise has revealed in a trading update that its full-year 2013 revenue has reached at least GBP 70 million compared to GBP 36 million in 2012. Monitise's 2013 full-year results are scheduled to be published in early September 2013.

The company reports over 23 million registered users to the Monitise platform in 2013, with payments and transfers initiated via Monitise-powered technology worth USD 40 billion on an annualised basis. The same trading update indicates that at the end of the financial year 2013, Monitise’s had GBP 85.6 million net cash in hand.

In recent news, Movida, the mobile payments joint venture between Visa and Monitise, has closed a deal with Indian financial services provider ICICI Bank to utilize Movida’s mobile payments service for the bank’s customers.

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