Monitise plc [MONI.L] welcomes the news that Visa Europe today announced it is working with Monitise to launch a mobile prepaid shopping voucher service. The agreement will pave the way for the development of a whole range of innovative new products and services for Visa banks, which include most of Europe’s major financial institutions, that meet consumers’ desire for real time information while on the move.

Visa Europe’s new mobile prepaid payment service will allow consumers to create a Visa prepaid account on their mobile handsets and load the account with funds from either a bank account or a credit or debit card. They can then either use the account for online purchases or send it to a third party via the mobile phone. Visa expects the service to be popular with the youth market and for gifts and offers a variety of different ways to deliver real mobile payment services to their customers.

Going forward services are likely to include information requests, such as checking card balances and recent transactions; payment services, such as transferring money to friends or family.

Sandra Alzetta, Visa Europe said: "Mobile technologies will be the key driver of innovation in payments, creating opportunities for exciting new propositions for customers and tangible value creation for providers."

Alastair Lukies, CEO Monitise plc, said: “Visa Europe is an innovator in the payments arena, and we are delighted to be working with such a global leader to develop secure mobile services that meet the needs of their customers both now and over the long term."

Visa Europe will be show casing this technology at CARTES & IDentification 2007 exhibition from 13-15th November 2007 at the Exhibition Centre, Paris-Nord, Villepinte in hall 4, aisle J, stand number 032.