Monitise plc’s Stock Volume Soars amid MasterCard Agreement

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Monitise plc’s Stock Volume Soars amid MasterCard Agreement

Monitise plc’s (OTCPINK: MONI) share volume soared Apr. 14, with 4,899,790 changing hands, nearly twice its three-day monthly average of 4,899,790 shares.

The heavy volume comes on the heels of MasterCard recently announcing its intention to enter into a commercial agreement with the UK-based Monitise, which is the largest mobile money specialist in the world.

Development of Mobile Wallets

The agreement would accelerate the development and deployment of mobile wallets and digital payment solutions by financial institutions worldwide. MasterCard also intends to make a minority investment in Monitise.

"For more than a decade, MasterCard has driven the development of mobile commerce - including the world's first contactless and mobile payments solutions," said MasterCard’s Ed McLaughlin, chief emerging payments officer. "Our partnership with Monitise builds upon a shared commitment to improve the mobile shopping experience today and into the future."

Monitise works with more than 350 banks and financial institutions, merchant partners and payment processors including Royal Bank of Scotland, Lloyd's Banking Group, U.S. Bank, HSBC, Telefonica and FIS, serving 28 million registered users worldwide. On an annualized basis, the company processes 3.5 billion transactions and the value of payments and transfers initiated by its technology platform is over $70 billion.

On Apr. 14 MONI’s share price closed at 10 cents, unchanged from its closing price the previous day.

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MyECheck to Provide Fully Electronic Check Services to VX Gateway

In other news, MyECheck Inc. (OTC Pink: MYEC), a payment processing business that provides electronic check imaging services to merchants, announced that it has signed an agreement with VX Gateway, a provider of global payment services and technologies.  

VX Gateway Inc. is a global electronic payment company expert in secure, real-time electronic monetary transactions. VX applies its proprietary VX Cloud Payment Framework(TM) which is a Real-Time Gross Settlement system that coordinates cloud computing with jurisdictional banking frameworks to provide real time and secure payment processing (including multi-currency transactions) to governments, financial institutions, businesses and consumers, at reduced cost.

Under the agreement, MyECheck will provide electronic check services to facilitate real-time straight through processing transactions on the VX Gateway system, in addition to e-wallet account funding and other transactions. VX Gateway offers a large number of payment products for a wide range of customers globally.

VX LOOP account is an International Bank Account Number (IBAN) generated in the VX Cloud Payment Framework. VX LOOP account controls global routing and settlement in seconds using the VX closed loop real time gross settlement system. VX LOOP currently provides multiple currencies between all VX LOOP accounts. Unlike banks, VX LOOP is available 24/7/365.

VX Remittance is the global electronic remittance gateway that pays anyone anywhere in the world in multiple currencies and languages. VX Remittance is available between all VX LOOP account types Government, Financial institution, Business, Merchant and Personal.

Ed Starrs, CEO of MyECheck, commented, "VX Gateway provides opportunity for a large volume of transactions on our system, and puts us into new markets. We expect to go live with services for VX gateway within a couple of weeks."

On Apr. 14 MYEC’s share price closed at 5 cents, down 1 cent from its closing price of 6 cents the previous day, on robust volume of 25,298,232 shares

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Alpha Bank A.E. Stock Volume is Robust

Meanwhile, Alpha Bank A.E. (OTCPINK: ALBKY) stock volume was heavy Apr. 14, with 1,610,511shared changing hands, significantly higher than its three-month average volume of 1,113,812.

Alpha Bank is the second largest commercial bank in Greece and the top bank in the private sector.

The bank's activities cover the entire range of financial services. It is acknowledged as an innovator in introducing new products, as, for instance, home banking via Alphaphone (banking services through telephone) via Alphaline (PC link) and Alpha Web Banking (banking services through the Internet). The Bank also offers shipping services and a wide range of deposits and loan accounts.

Alpha has not been in the news lately and has not issued any new releases for months.

On Apr. 14 ALBKY’s share price closed at 32 cents, down 2 cents from its closing price t34 cents he previous day.

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