Monitise plc has a goal of providing banks with the basic tools to build their mobile payments strategy. A budding relationship with Intuit Inc., which has more than 1,200 financial institution clients, could help it further this initiative.
Intuit has a fairly varied product set for consumers, merchants and banks. For merchants, Intuit offers the GoPayment card reader, which ties into its Quickbooks Point of Sale software. For banks, Intuit has FinanceWorks, a personal financial management-focused system for consumers and small businesses. For consumers, Intuit has Mint.com, a free PFM site that ties consumers' accounts together but prohibits money movement, largely due to security concerns.