British mobile banking provider Monitise, through its Monitise Asia Pacific unit, has signed a deal with Bank of China (Hong Kong) Ltd. to partner on new mobile payment technologies. Monitise said in its announcement that the two companies will work together to develop and launch products that enhance BOCHK service channels in Hong Kong using the Monitise enterprise technology platform.
Monitise's new deal with BOCHK builds on the company's existing relationship in Hong Kong with JETCO, an ATM switch and payments company, Monitise said. JETCO already serves more than 30 banks and BOCHK has been involved in JETCO's upcoming launch of a mobile phone prepaid top-up service. The bank has also been working with Monitise to expand those services to include other mobile payment methods.
BOCHK has more than 260 branches and 580 ATMs in Hong Kong, and the new partnership represents Monitise's latest effort to develop a mobile payment ecosystem in Hong Kong, Monitise said
"As we continue on our mission of global mobile money innovation and building an ever-larger ecosystem for banking and payments as cashless transactions grow, it is essential that we collaborate with other leaders in their respective fields," said Lam Wai Yee, managing director of Monitise Hong Kong. "We are delighted to be working with BOCHK, a leading banking group in Hong Kong, to fuel the growth of mobile payments."
Monitise Asia Pacific is a joint venture between Monitise Plc. and First Eastern Mobile Investments Ltd., part of the First Eastern Investment Group, a Hong Kong-based investment group with direct investments in China.
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