In this weeks news,Virgin Money are teaming up with Monetise to develop the banks mobile and online payment products. (Moore 2014)
Virgin Money CEO Jayne-Anne Gadhia. says “We are excited to be extending our quest for smarter, brighter and better banking solutions with a partner that shares our ambition to bring unique, intuitive and valuable service features to our customers".
This may not be considered to change the face of the company, and as branch networks still matter in banking, mobile banking may completely take over in coming years. (Stephens 2014).
More than 1.6 billion payments were completed using a smartphone or tablet this year according to a study by Juniper Research. First it was Apple Pay, and now Virgin Money, who will be next to follow?
References:
Michael Moore, 5 December 2014, Virgin Money Signs Up Monitise For Mobile And Online Payments, (online) http://www.techweekeurope.co.uk/e-marketing/virgin-money-monitise-payments-156967
Peter Stephens, 5 December 2014, Is Monitise Plc’s Partnership With Virgin Money Holdings (UK) PLC A Game Changer?, (online) https://www.fool.co.uk/investing/2014/12/05/is-monitise-plcs-partnership-with-virgin-money-holdings-uk-plc-a-game-changer/
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