Monitise Signs Telefónica Cloud Platform Deal

Former mobile payments firm Monitise has strengthened its ties with networking giant Telefónica with the signing of a new cloud platform deal.

The agreement will see the two companies work together to explore and develop new potential projects based on the Monitise cloud platform.

The new framework deal supersedes the previous contract between Monitise and Telefónica announced back in July 2013, said Monitise, adding that the development is part of its transition to become a cloud business.

Cloudy

Monitise’s cloud platform, which launched earlier this year, provides software-as-a-service products as well as ‘build your own’ platform-as-a-service capabilities.

The deal is the latest collaboration between Monitise and Telefónica in recent months, showing the depth of the relationship between the two companies as they look to benefit from the latter’s customer base of 329 million in 21 countries around the world.

Telefónica was one of the main investors in a £49.2m investment round last November along with Santander and Mastercard as part of a deal to expand the reach of Monitise’s mobile banking and payments services.

The deal will see Monitise work with Santander to build new mobile money capabilities for the bank, and collaborate with Telefónica to develop new products and services ahead of a major Latin America push in 2015.

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