11/16/2010 10:32:00 AM
Monitise, Best Buy and Charles Dunstone launch joint venture
Mobile payments company Monitise has formed a joint venture with Best Buy Europe and Carphone Warehouse founder Charles Dunstone.
The venture, of which Monitise will hold a 40% stake, will create a ‘Mobile Money Network’ for launch in 2011.
The deal will see the launch of products and services to enable consumers to get the most from 'Mobile Money on the move'.
It will be a ‘one-stop shop’ for companies wishing to advertise and sell on a mobile phone.
The joint venture will leverage the retail experience of Charles Dunstone together with Monitise's technology to provide other companies with a platform to launch services aimed at shopping, banking or marketing on mobiles.
Best Buy Europe will become the first retail partner and will make an investment in the venture as part of its belief in the growth of mobile commerce, Monitise said.