Visa Europe has acquired a 15% stake in m-commerce company Mobile Money Network (MMN), a further signal of its intent to become a dominant force in mobile payments.
MMN is the company behind the Simply Tap mobile checkout app that we reviewed yesterday.
Mobile payment app Simply Tap saw a 40% increase in registrations following a poster campaign that offered the chance to buy a Thorntons Easter egg for just 1p.
To access the offer users could either type in a code word, scan a QR code or use the app’s image recognition (IR) technology.
Mobile Money Network (MMN) corporate development director Matthew Smith said that the company, which built the app, quickly ran out of the promotional eggs due to high demand.
Mobile Money Network is a joint venture between Best Buy Europe and mobile payments firm Monitise, which aims to capitalise on the growth of mobile commerce. It plans to release Simply Tap, a mobile app which allows users to pay for products via SMS.
I’ve been asking CEO John Miliken about the Mobile Money Network, and the future of mobile payments…