Payment news, June 1

Visa and Monitise agree to build a mobile payments platform in India, while the Philippines moves closer to a central remittance processing platform.

Visa and Monitise announce partnership in India

Visa and mobile financial services developer Monitise have partnered to create a technology platform that allows financial institutions and mobile network operators in India to offer a range of mobile financial services to their customers.

Creating this joint venture is a crucial step in the acceptance of digital currency in India and will enable the migration of $700 billion of annual consumer spending from cash to electronic forms of payments, said Elizabeth Buse, group executive of Visa International, in a statement. Together, Visa and Monitise can provide banks and mobile network operators in India the scale, security and reliability required to make mobile money a reality...

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