Monitise has launched a white-labelled mPOS system following a key acquisition it made earlier in the year and a drive by its backer Visa into the mCommerce space.

Monitise is working with financial institutions and banks to help them deploy branded mobile payments solutions to their customers. The mPOS system can be used on its own, with the option of a bluetooth-enabled Visa-ready card reader, integrated into existing services or used with additional Monitse back-end features. Monitise mPos is approved for use by both Visa and Mastercard.

The mPOS technology is based on assets acquired with the buyout of eMerit in 2012, from which it also inherited partnerships with O2 and Global Payments. Monitise received €45m in a three-year deal with Visa back in March to ramp up its mCommerce deployment.

 “While mobile is changing the payments market, mPOS is a fast-growing area within the payments ecosystem and financial institutions are ideally placed to capitalise on it,” said Monitise CCO Lee Cameron. “In order to do this they must build upon existing revenues and relationships and offer a competitive proposition to merchants, which can be scaled easily to meet future business and consumer needs.”