MONITISE PLC (OTCMKTS:MONIF) partnered with MoneyPass to provide a wide range of advanced mobile card services and control features to card issuers in the U.S. Elan Financial Services operates the MoneyPass Network.
As per the deal, MONITISE PLC (OTCMKTS:MONIF) will offer a range of facilities to MoneyPass mobile customers, including core mobile banking services like balance transfers. It will even offer advanced services such as mobile check deposit. Monitise will provide a scalable, cloud-based platform that will allow MoneyPass customers to provide mobile money services easily and securely.
MoneyPass Cardholders needs easy and convenient ways to manage their money. Troy Cullen, President of Elan Financial, said that mobile plays an important role in meeting their needs. Through partnered financial institutions, Elan Financial Services intends to provide cardholders access to an enhanced mobile card services experience. Apart from the core mobile card capabilities, MONITISE PLC (OTCMKTS:MONIF) will offer fraud and mobile security alerts to cardholders of partnered financial institutions. The users can know when their account may be at risk. They can proactively monitor and manage their bank accounts.
The management view
Mike Dreyer, the President of MONITISE PLC (OTCMKTS:MONIF), said that the mobile era has changed the way consumers interact with financial institutions. The engagement level on mobile is overwhelming. The customers of Monitise-based mobile banking use services daily. Now, the company intends to provide MoneyPass cardholders with a same convenience to mobile banking services on a trusted and secured platform.
It is a wide network run by Elan Financial Services. It is one of the leading provider firms of comprehensive debit card and ATM processing solutions for financial entities and Independent Sales Organizations. MoneyPass offers surcharge-free access to its cardholders at over 24,000 ATMs across the U.S. It enables cardholders to access funds whenever they want. With over 1,600 participating institutions, MoneyPass is a fast growing surcharge-free network.