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July 28, 2010

UK Chancellor launches Monitise in India

The UKs Chancellor of the Exchequer, George Osborne MP is in Mumbai to call on the Governor of the Reserve Bank of India Mr Duvvuri Subbarao to deliver a speech on UK and India: A New Economic Partnership as well as announce the partnership in India of UK mobile banking specialist Monitise and global processor Visa. The event, co-hosted by the British Deputy High Commission, UK Trade & Investment and the Indian Bankers Association, will be attended by senior representatives of the banking, financial services, and business communities in the city. During his visit he will ring the opening bell at the Bombay Stock Exchange, launch Vodafone's new solar powered mobile handset and meet leading bankers, regulators, corporate heads and industrialists

By Verdict Staff

Monetise raised the curtain on its joint venture with Visa in India as part of a British delegation to the country which included Chancellor of the Exchequer George Osborne.

The finance minister attended the formal launch of the Monetise project at the Taj Mahal Hotel. It will provide a technology platform for banks and telcos to offer mobile banking services in India.

Osborne and Prime Minister David Camereon visited Mumbai to develop a “new economic partnership” between the two countries .

During the visit, Osborne rang the opening bell at the Bombay Stock Exchange, launched Vodafone’s new solar powered mobile handset and met leading bankers, regulators, corporate heads and industrialists.

Cards International’s sister publication Electrionic Payments International first broke the news of Monetise’s plans in India in July 2009.

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