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September 15, 2014updated 21 Oct 2016 3:48pm

Monitise 2013 annual losses grow to over £30m

Revenue up as mobile payments firm focuses on partnerships

By Sam

UK mobile payments firm Monitise saw annual losses reach £31.4m from £19m for the previous year on revenue up a third to £95m.

The firm said the loss was in line with expectations.

Monitise said it formed a partnership with Spanish banking group Santander and cited partnerships with Telefonica and its Yaap Shopping launch in Europe, a mobile commerce collaboration deployed commercially between financial institutions and telecom operators.

A deal with IBM expanded into a multi-year global alliance to deliver cloud-based Mobile Money Solutions and a Chinese-language cloud-based Mobile Money platform was rolled out to PCCW customers in Hong Kong, with Bank of China (Hong Kong) as its launch bank.

"Registered users of 30m as at end June 2014, compared with 23m a year ago. The Group’s relationship with MasterCard continues to develop, with a number of initiatives in the pipeline. As a result, Monitise expects to announce new customers and products in the coming weeks and months, including the first service for Santander," the firm said.

Earlier this month the company announced a management reshuffle which saw the CIO leave.

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