Visa Europe and Mobile Money Network have gone
into an agreement under which Visa will take a 15% stake in
MMN.
The move is part of Visa Europe’s strategy to
implement m-commerce initiatives and empower its services through
mobile payments.
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Visa cardholders will benefit from Simply Tap,
MMN’s instant mobile checkout app that targets mobile shopping
within the mass market.
The first initiatives will take place this
year in the UK.
Peter Ayliffe, CEO of Visa Europe said:
“By 2020, we predict that more than half of
all our transactions will be carried out on a mobile device. Our
investment in the Mobile Money Network will support our aim to
deliver a wide range of secure and reliable mobile payment.”
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By GlobalDataUnder the agreement Visa Europe will also take
a seat on the MMN board.
