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Mobile Money leader’s mobile commerce platform supports service launched by the JV of CaixaBank, Santander and Telefónica

Monitise plc (LSE: MONI) announces it is the technology partner behind Yaap Shopping, the Spanish mobile commerce service launched by the alliance of CaixaBank, Santander and Telefónica.

Yaap Shopping is a virtual mobile commerce service in which thousands of retailers in Spain can generate revenue through digital interaction with consumers via offers, discounts and loyalty programmes within a state-of-the-art, cloud-based mobile commerce system. It also gives consumers the ability to buy on the move from local retailers that they use every day.

To read more about Yaap Shopping, visit: https://www.yaap.com/sites/default/files/kitdeprensayaapesp.zip

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Lee Cameron, Chief Commercial Officer at Monitise plc, commented: “We are honoured to be supporting this initiative, formed by three pioneering, leading brands which are raising the bar for digital innovation on a global scale. It is a shining example of world-class collaboration in the Mobile Money space. It’s large-scale convergence like Yaap which will be key to successful mobile commerce.”

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Cameron added: “Mobile is the one channel which bridges both the physical and digital worlds, so Yaap has the potential to be transformational for the retail world from both a merchant and consumer perspective.”

The joint venture members first unveiled details of Yaap in an announcement on April 10. The alliance, initiated in Spain, has a mission is to create new and open digital services with a global outlook. Yaap represents the first time in Europe that financial institutions and telecom operators have joined to innovate together in the creation of new digital services. It has the potential to reach 600,000 businesses in Spain alone. Monitise’s involvement with the agreement follows on from a five-year alliance formed with Telefónica, announced on July 1, 2013.