Monitise to offer mobile money services for MoneyPass network

Monitise PLC this past week announced that it has partnered with the MoneyPass network to offer a range of advanced mobile money services and card control capabilities to card issuers in the United States, according to a press release. The MoneyPass network is operated by Elan Financial Services, a division of U.S. Bank.

Monitise said in the announcement that it will offer a range of capabilities to MoneyPass Mobile users, including core mobile banking services such as balance checks and transfers, as well as more advanced services such as mobile check deposit and cardholder-managed security controls. The scalable, cloud-based platform provided by Monitise will enable MoneyPass issuers to offer mobile money services rapidly, easily and securely, according to the press release.

"MoneyPass cardholders are looking for easy, straightforward ways to manage their money," said Troy Cullen, president of Elan. "Mobile is a critical channel to help meet this need. Through our participating financial institutions, we want to give cardholders access to a premium mobile card services experience that is both easy to use and secure."

In addition to core mobile card services, Monitise will enable mobile security and fraud alerts for cardholders of participating institutions, which will provide immediate notification when an account might be at risk. This allows cardholders to proactively monitor and manage their accounts, according to the announcement. 

"Thanks to mobile, the way that consumers are interacting with their financial institutions has transformed from just a few years ago," said Mike Dreyer, president for the Americas at Monitise. "The level of engagement through mobile is staggering — users of Monitise-based mobile banking services often log in daily. Part of the reason this is so high comes down to trust, and we are looking forward to providing MoneyPass cardholders with greater access to mobile banking services on a platform they can rely on."

Topics: Mobile Banking

Companies: Elan Financial Services

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