Monitise has formed a UK mobile money network joint venture with retailer Best Buy Europe and Carphone Warehouse founder Charles Dunstone.
Monitise first inked a deal with Carphone Warehouse last December, with the pair vowing to establish a network to extend mobile banking and payments into the world of retail.
The network will now be launched next year, using Monitise’s technology and the Charles Dunstone’s “extensive retail experience” to offer a “one-stop shop” for mobile services, covering shopping, banking and marketing.
Monitise holds a 40% stake in the venture, with Best Buy Europe, itself a recent established JV between the US electronics retailer and Carphone Warehouse, also making an investment and becoming the first retail partner for the network.
Says Dunstone: “Every year we see hundreds of exciting ideas in the space of mobile shopping, banking, payments and marketing, but what is required is a central, independent and trusted network to make it come alive. We believe we have the track record to play this role.”
Andrew Harrison, COO, Best Buy Europe, adds: “Retailers need to be at the forefront of how consumers are using technology. And so we are really excited to be the first retail partner of the Mobile Money Network. We have 800 stores in the UK but can now open up another 60m plus mobile phone based virtual storefronts through this venture.”**
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Steve Husk, CEO of FRSGlobal, discusses the factors financial institutions are faced with in order to equip themselves against the current regulatory environment.
The adoption of IFRS for Canadian companies is in full swing. As of January 1, 2010, Canadian companies are required to file financial statements under IFRS. Although Canadian GAAP and IFRS are similar, there are three main differences that have posed a challenge for companies: effectiveness testing, hedge accounting eligibility, and fair value measurement. While not an exhaustive list, these issues have posed the greatest challenge for Canadian corporations during the first quarter of 2010. The following paper clarifies some of the differences in hedge accounting between Canadian GAAP and IFRS and shares best practices for hedge accounting to help Canadian corporations navigate through the transition.
With this Spring 2010 Edition of the Phone System Comparison Chart quickly see differences between brands like Avaya, Mitel, Cisco, ShoreTel, 8x8, Panasonic, etc and compare over 94 phone systems by 52 brands for small to big business.