Collaboration to Support Financial Institutions Worldwide
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PURCHASE, NY – March 24, 2014 – MasterCard today announced the intention to enter into a commercial agreement with Monitise plc (LSE: MONI) to accelerate the development and deployment of mobile wallets and digital payment solutions by financial institutions worldwide. MasterCard also intends to make a minority investment in Monitise.
Monitise provides solutions designed to help consumers bank anywhere, pay anyone and buy anything through mobile applications. The combination of MasterCard and Monitise’s complementary expertise in developing mobile platforms for commerce and banking is anticipated to result in additional innovative and secure solutions.
“For more than a decade, MasterCard has driven the development of mobile commerce – including the world’s first contactless and mobile payments solutions,” said Ed McLaughlin, chief emerging payments officer, MasterCard. “Our partnership with Monitise builds upon a shared commitment to improve the mobile shopping experience today and into the future.”
Monitise works with more than 350 banks and financial institutions, merchant partners and payment processors including Royal Bank of Scotland, Lloyd’s Banking Group, U.S. Bank, HSBC, Telefónica and FIS, serving 28 million registered users worldwide. On an annualized basis, the company processes 3.5 billion transactions and the value of payments and transfers initiated by its technology platform is over $70 billion.
MasterCard (NYSE: MA), www.mastercard.com, is a technology company in the global payments industry. We operate the world’s fastest payments processing network, connecting consumers, financial institutions, merchants, governments and businesses in more than 210 countries and territories. MasterCard’s products and solutions make everyday commerce activities – such as shopping, traveling, running a business and managing finances – easier, more secure and more efficient for everyone. Follow us on Twitter @MasterCardNews, join the discussion on the Cashless Pioneers Blog and subscribe for the latest news on the Engagement Bureau.
Forward Looking Statements:
Statements in this press release which are not historical facts, including statements about MasterCard’s plans, strategies, beliefs and expectations, are forward-looking and subject to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements speak only as of the date they are made. Accordingly, except for the company’s ongoing obligations under the U.S. federal securities laws, the company does not intend to update or otherwise revise the forward-looking information to reflect actual results of operations, changes in financial condition, changes in estimates, expectations or assumptions, changes in general economic or industry conditions or other circumstances arising and/or existing since the preparation of this press release or to reflect the occurrence of any unanticipated events. Such forward-looking statements include, without limitation, statements related to:
- the completion of the commercial agreement and investment; and
- MasterCard’s strategy and the impact of these transactions.
Actual results may differ materially from such forward-looking statements for a number of reasons, including those set forth in the company’s filings with the Securities and Exchange Commission (SEC), including the company’s Annual Report on Form 10-K for the year ended December 31, 2013, the company’s Quarterly Reports on Form 10-Q and Current Reports on Form 8-K that have been filed with the SEC during 2014, as well as reasons including difficulties, delays or the inability of the company to achieve its strategic initiatives set forth above. Factors other than those listed above could also cause the company’s results to differ materially from expected results.
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