Home Wealth  Money Visa Inks Pair Of Deals With Eye On Mobile

Visa Inks Pair Of Deals With Eye On Mobile

Posted: Jun. 10th, 2011  |  By Forbes

powered by Forbes

RSS Syndicated News Email a Friend Suggest an Article Share Visit Website

Visa announced an acquisition as well as a long-term commercial agreement Thursday, both aimed at expanding mobile options.

The payments technology giant said it has agreed to acquire South-African based Fundamo for $110 million in cash. Fundamo has a platform that enables the delivery of mobile financial services to unbanked and under-banked customers around the world, including person-to-person payments, airtime top-up, bill payment and branchless banking services. The combination will reach mobile financial services subscribers across Africa, Asia and Latin America.

Visa (nyse: V - news - people ) also signed a new commercial agreement with Monitise to expand delivery of mobile financial services to banked Visa account holders in conjunction with its financial institution partners.

Monitise's expertise in customizing mobile applications for a broad range of phone models and operating systems enables Visa to virtualize existing accounts on mobile phones and offer a new array of payment types. Terms of the deal were not disclosed.

Market News Video produces and distributes online videos about stocks and investing.




Share on Facebook Share
See Next Article
Need to Get Away?
Top 10 Business Hotels
Who says you canít mix business with pleasure?
Read More
More Articles from Forbes.com

advertisement
Quick Links
Autos
Boating
Real Estate
Luxury Travel
Fashion
Search Real Estate
Find Your Dream Home
Search for homes by
State, Country or Style.
Event Calendar
advertisement
Current News & Features
Stylish Moxi Restaurant Brings Cosmopolitan Concepts to Traditional Mexican Cuisine
Join the San Francisco World Spirits Competition by Mixing These Whisky Recipes at Home
Inside the World of Divergent: Stars Chat About Auditions, Training, Fears & Favorite Scenes
$21M Waterfront Estate Brings the Mediterranean to Miami Beach
13 Books You Need to Read Before They Hit Theaters This Year
5 Dublin Restaurants to Check Out For a Thoroughly Irish Experience
Million Dollar Elephant Dung and Buddha Selfies Stole the Show at Art Basel Hong Kong 2015
Event Recap: Relais & Châteaux's GourmetFest Once Again Delivers a Foodie Affair for the Books
11 Stunning Treehouses That Will Make You Reconsider Your Next Home Purchase
Score $7K Headphones Straight Off the Dolce & Gabbana Runway
See the complete list
 
Featured Photo Gallery
See the complete list
THINGS WE LIKE