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Visa Reevaluating Mobile Payments Venture

Monitise, a British mobile payments firm, received bad news from Visa, one of its primary shareholders, this week. Visa is evaluating its stake in Monitise and may sell off its shares in the coming months. This has sent Monitise’s stock plummeting, but the firm has partnerships with other prominent companies that could mitigate the loss of Visa as a stakeholder. Monitise has managed to garner support from consumers in the United Kingdom that are interested in mobile commerce. Visa is currently “considering its options” regarding its stake in Monitise. In 2009, Visa took a 14.4% stake in the firm.

Read the whole story at Mobile Commerce Press »

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