Details of a first project between partners Monitise and credit card giant Visa saw Monitise's shares hit a record 24.5p, or 36 per cent up since our original buy tip ().
Visa has a tie-up with DeviceFidelity, a small US technology business that has managed to squeeze a Radio Frequency Identity (RFID) chip into a microSD memory card. Load this into a mobile handset, and you've got a combined phone and swipeless credit card.
Monitise supplies the software application that enables the mobile and microSD card to 'talk' securely to each other. Trials in the US should happen later this year with mass roll-out likely in two to three years - and that's when Monitise will start to earn a small fee per transaction.
When: 8/07/10
Price: 18p
Performance to date: +36%
