The foundation blocks of the Monitise approach are formed from common security mechanisms and standards that we all use on a daily basis. More specifically, built upon the 'something that I own and something that I know' principle utilized at the physical ATM and point of sale terminal. This is where a customer authenticates them self for access or payment with a physical card, something that they own, and a personal identification number or signature, something that they know.

Not only do we rely on commonly used mechanisms and standards but we have further extended these standards to include registration processes, to ensure that the FI bringing the service to one of their customers has checked and verified their customer's details. Furthermore, a series of transaction limits are employed that can restrict the type, frequency and value of transactions a customer is able to make. These limits have been specifically designed to suit the characteristics of the mobile channel and the requirements of the Monitise ecosystem members.

We have also forged a unique relationship with mobile carriers, which enable them to verify that a request has been initiated by one of their customers. Finally, Monitise employs bank grade and world class encryption mechanisms to ensure the safe transmission of information from a customer, across their mobile service provider, to their bank and vice-a-versa.

Monitise is fully committed to improving the model through ongoing research and development in order to design and develop the future evolutions of the model. This ensures that the Monitise service is safe and remains safe for all of the members of the Monitise ecosystem - customers, mobile carriers, banks and card schemes.