MasterCard has entered into a commercial agreement with Monitise that includes cooperative development and a plan by the card network to make a minority investment in the technology company.

The two companies have synergies that should aid in developing new mobile technology for commerce, payments and banking, MasterCard said in announcing the arrangement on March 25.

Limited Time Offer

Save over $700 on your subscription. Special offer expires April 30, 2017.

14-Day Free Trial

Authoritative analysis and perspective for every segment of the industry