Monitise, a provider of mobile banking, payments and commerce services has completed the acquisition of US mobile banking and payments specialist Clairmail (view press release). As a result of the deal, by the end of 2013 Monitise expects the acquisition to be earnings accretive and the enlarged group to achieve EBITDA breakeven.
Monitise now provides mobile money services to over 300 or so financial institutions and partners in North America, including a third of the top 50 North American financial institutions and of these eight of the top thirteen.
“We are now handling over 100 million transactions a month as consumers benefit from always-on mobile access to their finances. We remain on track for a strong trading year and will be further strengthened next year by our acquisition of Clairmail,” said Monitise group chief executive, Alastair Lukies.
Whitepapers
Related reading
Central banks best suited to issue digital currencies
By Aaran Fronda A recent report by the Official Monetary and Financial Institutions Forum (OMFIF) said that central banks rather than private ... read more
Instant payments: innovations inbound for corporates
In 2020, instant payments look set to continue their current trajectory to become the biggest trend in payments. While these schemes already offer numerous benefits to corporates, leveraging innovations such as APIs and request to pay will go some way to unlocking their full potential, argues Michael Knetsch
Obstacles exist for banks to meet ECB’s instant payments goal
The cost of joining instant payment platforms will be one of many hurdles banks and payment services providers must overcome to meet ... read more
Banks must be aware of “biases” in data used to train ML models
Financial institutions need to be conscious of biases in the historical data that is being used to train machine learning (ML) models, ... read more