Money Is Moving At Monitise

Monitise Plc, a London-based mobile payments platform, is quickly gaining pull among those in the know.

Monitise (AIM: MONI; OTC: MONIF) was founded in 2003 when CEO Alastair Lukies saw the potential of using the mobile phone for more than simply a text or call.

The company links banks and mobile operators, thereby empowering consumers to manage their finances or make payments directly from their mobile phone, anytime, anywhere.

Monitise Plc now offers mobile payments services to over 385 financial institutions. Monitise is listed on the Over-The-Counter Stock Exchange under the symbol MONIF and is currently trading at $.777.

The market valuation for this company is listed at $1.2 billion, but shares have been beaten down by over 30% this year due to a selloff in March after the company announced that it had changed its revenue model from a license model driven by front-end enterprise IT spending to a subscription model.

Big banks like Barclays give an overweight position for holding shares of the company, and recent research report released by US stock firm BTIG reiterates its buy position of this overlooked gem in the mobile payments industry.