Mobile banking service provider Monitise says that it is extending its business further into Africa and the Middle East with a joint venture with Paynet, an electronics payment company.
The agreement with Paynet, which has a well-established electronic payment network in Kenya, Tanzania, and Uganda that connects to 35 regional financial institutions, will allow Monitise to further expand its operations in Africa and the Middle East.
Uniquely among mobile banking services, Monitise also enables people without a bank account to use its services. Additionally, Monitise provides traditional mobile banking to customers with bank accounts. Monitise’s technology turns mobile phones into ‘mobile wallets’ which can be loaded with money and used to pay bills, deposit and withdraw cash, and receive money transfers. Read the rest of this entry »
