June 30, 2015
We have witnessed some prominent partnerships established among players in the payments industry. The number of nodes (and complexity) in the payments ecosystem makes it necessary to strike partnerships to get things done (and sometimes to gain competitive advantage). These partnerships have resulted in product launches, solid market expansion and useful innovation to existing payments systems. Following are the highlights of some noteworthy partnerships:
IBM + Monitise
The companies entered into a partnership in July this year to deliver cloud-based mobile solutions for the financial-services industry, expanding their global alliance to help banks and financial institutions embrace mobile channels for better customer-oriented services. The partnership combined the IBM MobileFirst portfolio and Monitise’s mobile banking and payments portfolio. Financial institutions will get access to data analytics as part of IBM’s Global Business Services initiative. Clients benefit from Monitise’s adoption of IBM BlueMix, a cost-effective development environment.
MasterCard + First Data ...