View all newsletters
Receive our newsletter - data, insights and analysis delivered to you
  1. Technology
September 22, 2014

Monitise shares rocket after IBM data centre namedrop

Timely announcement from IBM follows Visa's uncertainty about mobile payment system.

By Ben Sullivan

Shares in the mobile banking company Monitise have shot up today following an announcement from IBM that included the firm in its press release.

IBM’s new ‘cloud resiliency’ centre in North Carolina aims to provide improved business processes in the cloud to protect customers from costly disruptions.

The announcement from IBM led with the centre’s first customer, Monitise. IBM said: "By having IBM manage its secure cloud infrastructure, the company will be able to establish a resilient and highly flexible bank-grade architecture allowing Monitise to deliver uninterrupted service to its clients."

Mike Errity, IBM VP for business continuity, said: "The work we’re doing with Monitise at this new cloud resiliency center is a strong testament to IBM partnerships with enterprise clients to drive new innovation."

Shares opened at 29.75, but reached a high of 32.50 after IBM’s news.

IBM’s announcement couldn’t come at a better time for Monitise, as the firm lost more than a third of its market value last week following Visa’s plan to retract its stake in the company.

Visa Inc currently has a 5.5% stake in Monitise, but was said to be "considering its options" in the company which deals with $88bn worth of purchases and transfers every year.

Content from our partners
Scan and deliver
GenAI cybersecurity: "A super-human analyst, with a brain the size of a planet."
Cloud, AI, and cyber security – highlights from DTX Manchester

The necessity of traditional mobile payment systems has been called into question recently with the launch of Google’s and Apple’s own platforms. Apple’s ‘Apple Pay’ was debuted last week with the release of its new smartphone the iPhone 6.

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.