Mobile Transactions More than Double at Monitise in H1

monitise_logo_blk_hi_resMonitise has published its results for the half to December 2013, revealing significant growth in the volume and value of mobile payments being made using the company’s technology.

The number of transactions processed has jumped from 2bn to 3.4bn from H1 2012 to 2013. This has been bouyed by deals like signing 30 Visa Europe member banks up to offer P2P payments to their card holders and gaining significant traction across the US and APAC. The value of transactions, meanwhile, has more than doubled from $31bn in 2012 to $71bn at the end of 2013.

Monitise’s revenue grew 67 per cent during the six months to December 2013 to £46.5m, but the company still made an operating loss of £10.2m before tax and other exceptional items. The company expects full-year revenue growth of 50 per cent.

Registered users of Monitise’s white-label payments solutions, which includes Lloyds bank in the UK, rose by 8m to 28m. The company has also made signifcant deals with the likes of IBM and Telefónica Digital, with work now getting underway. The buyout of Grapple in September and rebranding to Monitise Create, in order for the company to offer creative mobile development services, has already seen FIFA and Samsung come on board, as well as a a leading US bank.

“During the half, we entered new relationships and deepened existing collaborations with leading players across financial services, payment processing, mobile network operators, technology businesses and retail,” said Monitise CEO Alastair Lukies. “But there is a lot further to travel. Large deals signed in 2013 are still in build phase, and our work with channel partners are also yet to materially impact our top line.”