Monitise has been granted a patent for virtual cards.

The UK patent relates to how Monitise, who specialise in mobile banking, payments and commerce, generate virtual cards on a mobile phone, enabling consumers to shop online without having to divulge their credit or debit card details to multiple retailers.

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Monitise said this would offer consumers a more secure way to shop online and via their mobile phones.

The virtual cards works like a prepaid digital voucher and can be created for a fixed amount or for a specified period.

Alastair Lukies, CEO of Monitise, said:

“Our innovative technology allows consumers to shop in situations where they have credit and debit cards, but don’t want to use them or they don’t have access to such cards.”

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Monitise currently provides services to banks covering more than 55% of the UK retail banking market.