Monitise has launched Monitise mPOS a white-labelled mobile payment service for banks, mobile operators and acquirers to offer their business customers the ability to accept card payments on a mobile device and layer on a scalable array of services enabling merchants to manage money on the move from one secure solution.
Mobile solutions are opening up faster and more convenient ways for businesses to manage money on the move. Mobile Point-of-Sale (mPOS) solutions enable businesses to process card payments at any time and in any location. Market estimates indicate mPOS acceptance could result in $1.1 trillion new card payments annually*. However, many mPOS solutions including smartphone and tablet apps are increasingly offered by non-traditional payment providers looking to capitalise on this fast-growing market. This is accelerating the competitive landscape and changing traditional merchant, bank and acquirer relationships.
Commenting on the launch, Monitise chief commercial officer Lee Cameron said: While mobile is changing the payments market, mPOS is a fast-growing area within the payments ecosystem and financial institutions are ideally placed to capitalise on it. In order to do this they must build upon existing revenues and relationships and offer a competitive proposition to merchants, which can be scaled easily to meet future business and consumer needs.