Tag: united kingdom

Monitise is for sale, citing changes to business model and a turbulent mobile payments market

Mobile payments and banking firm Monitise has put itself up for sale. The company, which is based in the United Kingdom, is citing changes in its business model for its third revenue warning that it has received in a year. Shares in Monitise have fallen by 20% as doubts begin to emerge concerning the company’s ability to find a buyer. The company has been experiencing some turbulence in the UK market recently, despite the growing adoption of mobile payments.

Firm adopts a subscription-based model that does not seem popular among clients

Monitise made a significant change in its business model recently, moving from a licensing model to a subscription-based structure. The company provides software solutions for mobile devices, allowing its clients to support mobile transactions. Among its clients are the Royal Bank of Scotland and Banco Santander, both of which have begun showing strong interest in the emerging mobile commerce space.

Mobile commerce is growing throughout the United Kingdom

Mobile payments have been growing throughout the United Kingdom in recent years. Consumers are beginning to rely on their smartphones for more than just basic entertainment and communication. These devices have become shopping platforms, allowing consumers to shop for and purchase products in a convenient manner. As the demand for mobile payment support grows, more banks are showing interest in offering their customers mobile-centric services. Monitise is one of the companies that was able to satisfy this need among banks, but changes in market trends have made it more difficult for the company, and those like it, to remain financially sustainable.

Monitise is expected to miss its revenue growth estimates for this fiscal year

Monitise expects to miss its revenue growth estimates of 25% for the fiscal year ending in June. The company expects to generate between $136 million and $151 million in revenue this year, compared to the $143.7 million it generated in 2014. Monitise stock was the most heavily traded stock on the London Stock Exchange this week.

The operator from the United Kingdom has announced the start of fares paid through smartphone transactions.

In the United Kingdom, a regional bus operator has now announced that it will be accepting mobile payments to let riders pay for their fares using the Barclay’s Pingit app, using their smartphones.

The bus company, First West Yorkshire, is among the first in the country to enable Pingit fares.

First West Yorkshire, has made an announcement that has revealed that it will be beginning the use of the mobile payments service in order to provide riders with an additional transaction method. The service that they have chosen is Pingit, the app that was initially introduced by Barclays back in 2012. The transportation industries in the United Kingdom have not yet broadly adopted smartphone based payments, making this local operator among the first to take that first step into this sphere.

The choice to use mobile payments was meant to be a reflection of the company’s intention to keep up with what consumers want.

According to the First West Yorkshire managing director, Paul Matthews, “Our partnership with Barclays puts First at the forefront of bus ticketing technology and reflects our commitment to grasp ever more innovative ways to make bus travel better, easier and more convenient.”

Though this bus operator is among the first in the U.K. transportation industry to make this move into appealing to consumers with mobile devices, the rest of the world has been catching on at an increasing rate. Some have predicted that this will be an important trend in areas such as travel and in public transportation. Mobile check-ins, for instance, are becoming increasingly commonplace among airlines in airports.

Some cities around the world have also been piloting programs that have been testing the use of smartphone based ticketing for their bus and subway systems. Among the key challenges has been choosing technology that would be compatible with the largest number of mobile devices as there has yet to be a standard within the very young smartphone based transaction industry.

From First West Yorkshire’s point of view, the mobile payments ticketing service has been chosen to give riders a quick, easy, and convenient way to use their smartphones to purchase and store their fares.