Monitise has launched a white-labelled mPOS system following a key acquisition it made earlier inside the year and a drive by its backer Visa into the mCommerce space.

Monitise is operating with financial institutions and banks to aid them deploy branded mobile payments solutions to their customers. The mPOS system can be utilized by itself, with the choice of a bluetooth-enabled Visa-ready card reader, integrated into existing services or used with additional Monitse back-end features. Monitise mPos is approved to be used by both Visa and Mastercard.

The mPOS technology relies on assets acquired with the buyout of eMerit in 2012, from which it also inherited partnerships with O2 and Global Payments. Monitise received €45m in a 3-year give attention to Visa back in March to ramp up its mCommerce deployment.

 “While mobile is changing the payments market, mPOS is a quick-growing area inside the payments ecosystem and fiscal institutions are ideally placed to capitalise on it,” said Monitise CCO Lee Cameron. “In an effort to try this they should build upon existing revenues and relationships and offer a competitive proposition to merchants, that are scaled easily to fulfill future business and consumer needs.”