Visa Europe Plans To Sell Stake Of Monitise

Visa Europe Plans To Sell Stake Of Monitise
08.07.2015 01:00 am

Visa Europe Plans To Sell Stake Of Monitise

Payments

Visa Europe has confirmed that it plans to cut its 5.3% stake in struggling UK mobile banking vendor Monitise.

Visa took a 14.4% stake in Monitise after signing a five year $13 million partnership deal with the UK outfit back in 2009. That shareholding has been gradually whittled down as Monitise skipped successive breakeven targets over the years.

In a brief statement, the company says: "Monitise and Visa Europe will continue to work together on a number of projects and services under the three-year commercial agreement which runs until 31 March 2016. Both parties look forward to working together for the duration of this commercial agreement and will assess on an ongoing basis opportunities to work together in future."

Markets shrugged at the news, which had already been factored into the company's share price. Monitise stock is currently languishing at 9.9 pence per share, down from a year high of 50.75 pence.

Related News

Global Processing Services teams up with sync. ahead of latter’s European launch

Global Processing Services (GPS) has today announced that it has partnered with London-... Read more »

Banking Circle adds same day local payouts in Polish Zloty to its payout capabilities

Banking Circle, the ground-breaking financial infrastructure provider, has added Polish Zloty (PLN) to its local currency payout capabilities.... Read more »

Barclaycard partners with FreedomPay to enhance customer offer

Barclaycard, a leading global payment business, is partnering with FreedomPay in the UK and Europe – a leader in commerce solutions. The collaboration will... Read more »

EPA launches Project Recovery to keep FinTech on the world stage

The Emerging Payments Association (EPA), which celebrates collaboration and innovation across the emerging payments industry, has today launched Project... Read more »

PayPoint Survey: 1 in 4 renters are behind in payments

As the UK eases out of lockdown and approaches the end of the furlough scheme, a survey of social and private renters* by the payment provider, PayPoint, has... Read more »

Onyx CenterSource announces global partnership with WEX to expand digitized payments options

Onyx CenterSource, a leading global provider of B2B payments and business... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App
Financial It Youtube channel