Online payment service Mobile Money Network calls in Speed

Mobile Money Network, the online payment service chaired by Sir Stuart Rose, has called in Speed Communications to help tap into growing demand for mobile shopping.

Mobile Money: consumers pay for products by tapping in a code
Mobile Money: consumers pay for products by tapping in a code

The company is a joint venture between Carphone Warehouse owner Best Buy Europe and mobile payment group Monitise.

As well as Rose, the former Marks & Spencer boss, other board members include Lord Davies of Abersoch, the former Standard Chartered bank boss, and Charles Dunstone, the Carphone Warehouse founder.

The company aims to cash in on the rising number of consumers who connect to the internet via mobiles and to help retailers reap the benefits.

When Rose announced his backing for the company he said: ‘The number of mobile subscribers has reached ?almost 5.5 billion globally and 750 million in Europe. This represents a massive commercial opportunity for retailers.’

Speed will help promote Mobile Money Network’s service ‘Simply Tap’ through b2b and b2c campaigns.

Nicola Harrison, director at Speed, said: ‘We’re going to help Mobile Money Network promote its vision of changing the way we shop forever.

‘We will work on the overall strategy, the b2b comms across national, trade and online and prepare for a consumer launch in November.’

Simply Tap enables consumers to go through a one-off registration and then order products by tapping a code into their mobile phone.

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