Monitise, a British mobile banking and payment service provider, has established a joint venture with Visa in India.

The Monitise-Visa joint venture is set to provide such services as balance inquiries, bill payments and ticket purchases via mobile devices. Further on, the two sides intend to diversify their range of activities by introducing mobile money for the unbanked Indian population as well as electronic transfer services.

In addition, Monitise has partnered with India-based financial services provider Standard Chartered Bank (SCB) to provide the latter’s clients with online banking-based mobile services. The partnership is expected to take effect in the upcoming twelve months of 2011.

The mobile banking domain is regarded as a key area of development in India since services of such nature are being increasingly adopted throughout the country. Moreover, the Indian government is encouraging banks and telecom companies to develop services to both people with bank accounts and those mobile phone users without them.