Visa is exploring options to sell its stake in mobile banking technology company Monitise, the card network announced in a press release.

In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4 percent owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa's holdings have been reduced to its current 5.5 percent stake in the company, according to the press release. This reduction in ownership and associated influence is consistent with Visa's investment practice to seed emerging players and, over time, taper that influence as the partner company grows, according to the announcement.

Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. Visa said in the announcement it intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.

"Visa has benefited substantially from our relationship with and financial investment in Monitise," said Bill Sheedy, executive vice president of corporate strategy at Visa, in a press release. "Visa invested in Monitise as an early thought leader with a vision of making mobile banking mainstream and extending that functionality to mobile payments. Over the past five years, Monitise has successfully demonstrated its leadership in the sector underscored by the company's marquee clients, multiple network partnerships and recent agreement with IBM. Consistent with Visa's increased investment in our in-house capabilities, and the substantial growth in Monitise, Visa is considering its options with regard to its Monitise stake."