Visa is continuing to gain ground in the mobile payments market with the acquisition of Fundamo, a service that is already prevalent in at least 40 developing markets.
Basically, the merger brings together Fundamo's mobile financial services platform, for customers with little to no access to a bank account, with Visa's global payments network, VisaNet. The gain for Fundamo users would be a higher level of security when making mobile payments, and Visa gets a bigger consumer base abroad.
Additionally, Visa reaffirmed an agreement with Monitise, which offers new services (i.e. mobile payments, person-to-person payments, mobile transaction … Read more