Mobile Banking Consolidation: Monitise Buys Clairmail For $173 Million

One more sign of the mobile money space continuing to grow up: some significant consolidation underway. Today, the UK-based mobile banking specialists Monitise announced that it is buying Clairmail, a U.S.-based competitor, for $173 million, as part of its global expansion. The combined group says it will serve 13 million customers world-wide, processing some $10 billion of payments weekly, and will give Monitise a much bigger and more direct presence in the North American market: one-third of the top 50 U.S. financial institutions are now clients of the group.

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