PaymentsJournal
SUBSCRIBE
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
  • Analysts Coverage
  • Truth In Data
  • Podcasts
  • Videos
  • Industry Opinions
  • News
  • Resources
No Result
View All Result
PaymentsJournal
No Result
View All Result

Monitise, Clairmail Deal Shows Mobile Banking's Growing Popularity

Mercator Advisory Group by Mercator Advisory Group
March 26, 2012
in Analysts Coverage
0
Class-Action Lawsuits Critical to Shedding Light on Bank Fraud - PaymentsJournal

Businessman on online Financial Assessment on a tablet . Team work in the office

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

From a TechCrunch article regarding Monitise’s purchase of Clairmail:

One more sign of the mobile money space continuing to grow up: some significant consolidation underway. Today, the UK-based mobile banking specialists Monitise announced that it is buying Clairmail, a U.S.-based competitor, for $173 million, as part of its global expansion.

The combined group says it will serve 13 million customers world-wide processing some $10 billion of payments weekly, and will give Monitise a much bigger and direct presence in the North American market: one-third of the top 50 U.S. financial institutions are now clients of the group.

Monitise and Clairmail both focus on an “infrastructure” play around mobile banking and mobile payments. Their main business is in providing the backend to let banks and other financial institutions offer mobile banking, payment and shopping services to its customers.

The link-up between Clairmail and Monitise will not only give the two companies a bigger geographical reach, but will also give customers of the companies access to providing banking services on a much wider international scale.

“This deal is transformational for our customers, our team, our shareholders and our company. It is a compelling combination and great news for all those wanting to offer bank-grade mobile money services to billions of consumers, not only in the US but worldwide,” commented Alastair Lukies, Monitise Group CEO, in a statement.

That is also furthered by Monitise’s existing strategic relationships with payments giants Visa Inc. and FIS.

This deal is a sure sign of mobile banking’s popularity and growth is the beginning of industry consolidation. And while the market is not yet entering a mature phase, there will likely be other deals on the horizon as market leaders try to defend, or expand, their market presence.

Deals like this, which introduce a broader customer and regional reach, are particularly enticing, as they offer greater synergies for their respective customers.

Click here to read more from the TechCrunch article.

0
SHARES
0
VIEWS
Share on FacebookShare on TwitterShare on LinkedIn

    Analyst Coverage, Payments Data, and News Delivered Daily

    Sign up for the PaymentsJournal Newsletter to get exclusive insight and data from Mercator Advisory Group analysts and industry professionals.

    Must Reads

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    Why Businesses Need to Adopt Real-Time Payments as a Competitive Differentiator

    January 27, 2023
    faster payments

    Faster Payments Are Set to Revolutionize Modern Digital Payments

    January 26, 2023
    How AI can Help Manage Payments Risk in 2023

    How AI can Help Manage Payments Risk in 2023

    January 25, 2023
    cross-border payments

    How to Implement Effective and Innovative Cross-Border Payment Strategies

    January 24, 2023
    credit card experiences, digital payments, b2b payments

    Will Consumer-to-Business Payment Trends Drive B2B Global Growth in 2023?

    January 23, 2023
    Faster Payments Faster Identity Verification, connected car, payments

    2023 Predictions: Authentication, Digital Identity, and In-Car Payments

    January 20, 2023
    bank data

    Interconnectivity, Data Sharing, and Security Are Vital for Banks to Thrive

    January 19, 2023
    B2B Payments, cryptocurrency

    Crypto as a Practical Solution to B2B Payments

    January 18, 2023

    • Advertise With Us
    • About Us
    • Terms of Use
    • Privacy Policy
    • Subscribe
    ADVERTISEMENT
    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Videos
    • Industry Opinions
    • News
    • Resources

    © 2022 PaymentsJournal.com

    • Analysts Coverage
    • Truth In Data
    • Podcasts
    • Industry Opinions
    • Faster Payments
    • News
    • Jobs
    • Events
    No Result
    View All Result

      Register to download the Brighterion eBook - The power of today’s market-ready AI to reduce transaction fraud