Mobile payments expert Monitise and IBM have announced a global digital commerce and resourcing alliance.
The alliance, which combines mobile banking, payments and commerce technology of both the companies, brings IBM sales and specialist resources to clients around the world with the full spectrum of advice, solution design and delivery of Monitise’s Mobile Money services.
Monitise said that its technology will be enabled, hosted and sold as an IBM cloud-delivered solution worldwide in the business-to-business space. This in turn underpins Monitise’s go-to-market strategic priorities as announced in March 2014, including its target for 200 million users using Mobile Money products and services developed by Monitise by 2018.
As part of the partnership, IBM’s global go-to-market investment of dedicated resources and promotional initiatives, globally and in region, will pair with Monitise staff to pursue Mobile Money opportunities. While commercial opportunities initially will be targeted at financial institutions, the companies will also address the needs of mobile network operators, retailers and any vertical requiring simple API connectivity to bank-grade, interoperable and scalable mobile payment and commerce functionality and content.
Under the terms of the agreement, teams from Monitise’s UK development and integration business known as Professional Services, including a number of contractors, will be transferred into IBM; IBM will in turn deliver services back to Monitise.
The transfer, which involves UK employees representing a little over 20% of Monitise’s global employee base, means Monitise technology talent will now be available for both Monitise and IBM customer projects and vice versa. All Monitise contracts and client relationships, intellectual property, commitments and delivery remain unchanged.
Monitise CEO Alastair Lukies said: "Today’s announcement marks a new milestone in delivering an industry-leading Mobile Money partnership, establishing IBM and Monitise as a global powerhouse. Together, we are in an unrivalled position to enable banks and other leading businesses to build on mobile banking and payments capabilities to tap into the growing digital commerce opportunity."