Former mobile payments firm Monitise has strengthened its ties with networking giant Telefónica with the signing of a new cloud platform deal.
The agreement will see the two companies work together to explore and develop new potential projects based on the Monitise cloud platform.
The new framework deal supersedes the previous contract between Monitise and Telefónica announced back in July 2013, said Monitise, adding that the development is part of its transition to become a cloud business.
The deal is the latest collaboration between Monitise and Telefónica in recent months, showing the depth of the relationship between the two companies as they look to benefit from the latter’s customer base of 329 million in 21 countries around the world.
Telefónica was one of the main investors in a £49.2m investment round last November along with Santander and Mastercard as part of a deal to expand the reach of Monitise’s mobile banking and payments services.
The deal will see Monitise work with Santander to build new mobile money capabilities for the bank, and collaborate with Telefónica to develop new products and services ahead of a major Latin America push in 2015.
All checked up on mobile payments? Try our quiz!
Tesla retreats from pioneering gigacasting manufacturing process, amid cost cutting and challenges at EV giant
No skynet please. After the US, UK and France pledge human only control of nuclear…
Microsoft's AI investments continue in south east Asia, after investments in Japan, Malaysia, Indonesia, as…
New chapter for LastPass as it becomes an independent company to focus on cybersecurity, after…
US FCC seeks to ban Chinese telecom firms at centre of national security concerns from…
Two updates to Anthropic's AI chatbot Claude sees arrival of a new business-focused plan, as…