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Visa Nails Down Two More Mobile Payment Deals; Buys Fundamo for $110 Million

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Global payment giant Visa consolidates its position in mobile payment market with the acquisition of South African firm Fundamo for a staggering $110 million. Visa has also reiterated an agreement with Monitise, to help existing Visa accounts on mobile devices and offer Visa account holders a new way to make payments.  According to Visa, the deals will accelerate the company’s recently-announced strategy to “provide the next generation of payment solutions”. With Fundamo and partnership with Monitise, Visa is envisioned to deliver mobile financial services and payment capabilities to the users across the globe.

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