Last week, Visa announced that we were not only extending our relationship with Monitise, but that we were acquiring Fundamo, a leading provider of mobile financial services for network operators and financial institutions in developing economies.
At the time of the announcement, we stressed that these investments directly supported our global strategy, which will allow us to deliver the next generation of mobile payments to consumers all over the world. It is one thing for us to say it, but we are glad to hear industry analysts and experts agree.
- On Yankee Group’s blog, Tole Hart cited the benefits of our relationships with Monitise and Fundamo and how these companies give Visa “An opportunity to expand its brand name and services in remittances, and double down in emerging markets for payment processing.”
- Mary Monahan of Javelin Strategy commented on the “nice synergies” between Visa and Fundamo. She also noted that, “With a ‘land grab’ going on among the emerging unbanked nations, it is vital for long-term players to get in on the ground floor and establish a brand presence from the get-go.”
- Bart Narter of Celent pointed out that the Fundamo acquisition is “A great way to get a toehold in emerging markets” adding, “There was no one better to buy than Fundamo.”
Posted by: Ryan Donovan, Corporate Relations on June 16, 2011 at 10:44 am