Shares in mobile banking firm Monitise were on the up on Wednesday after Visa Europe, its "strategic partner", said it expected that by 2020 over half of all its European transactions will be on a mobile device.
According to Monitise's Chief Executive Alastair Lukies, "The surge in mobile payments and transactions anticipated by Visa Europe mirrors the trend Monitise is seeing across its business."
Lukies said that on a current weekly annualised basis, the value of payments an transfers across the company's mobile technology platform is over £6bn and rising.
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Back in October, Visa Europe announced that it would invest £24.7m in Monitise "to strengthen the commercial partnership between the two companies", the firm said today.
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