Monitise Partners with CSCU to Reach More Credit Unions

Monitise is offering its payments and mobile banking products to more than 2,600 credit unions through a partnership with Card Services for Credit Unions, a credit union card processing and payment services association.

“Financial institutions are progressively being judged on their technological innovation, and those that fail to differentiate their mobile solutions risk losing market share and revenue opportunities,” says Lisa Stanton, president of Americas at Monitise, in a Sept. 4 press release.

Monitise, which has a client base that includes more than 350 financial institutions covering 23 million consumers, has made a number of recent moves to extend deeper into the vertical. Monitise in August partnered with Desjardins, a cooperative financial group in Canada, to develop and deploy Near Field Communication-based mobile payments.

Monitise also announced a relationship with IBM to bolster Visa Europe’s clients with cloud-delivered mobile banking and payments services. IBM’s Smarter Commerce initiative will support Monitise’s Bank Anywhere, Pay Anyone and Buy Anything products.

Pay Anyone allows customers to pay bills via text message, mobile Web or Monitise’s Smart Client application, plus the service enables person-to-person payments. Buy Anything allows financial institutions to deliver targeted marketing, loyalty and rewards to consumers using its mobile banking platform.

In July, Monitise partnered with global wireless carrier, Telefonica, to expand its services beyond traditional payment companies and financial institutions.