Monitise Americas to launch P2P service

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Monitise Americas has signalled its intention to launch a peer-to-peer money transfer product. Speaking to Money Transfer International, Monitise Americas CEO Lisa Stanton said that the company hopes to roll out the initiative in the next six to 12 months.

Stanton’s remarks follow the launch of Monitise Americas’ mobile money application on the App Store. This will enable iPhone and iPod touch users to perform banking and payment transactions using a single interface – regardless of their choice of mobile operator.

Stanton said that the launch of the mobile money application comes as consumers are demanding the convenience of managing their finances via a mobile channel: ‘We have crafted a mobile money application to take advantage of revolutionary technologies in the iPhone and iPod touch, like the innovative multi-touch user interface, and believe that it will exceed customer expectations.”

Monitise was recently selected by Visa International to help develop its suite of mobile services, which will include mobile money transfer and mobile payments. The five-year agreement between the two organisations has a contract value of $13 million, as well as ongoing licence, service and development fees.

Tim Attinger, head of global product innovation at Visa Inc, said at the time that in aligning with Monitise, Visa expects to expand the delivery of its mobile services to customers around the globe.