Of Special Interest
29th March 2011
Stuart rose chairs Mobile Money Network - company launches Simply Tap
The Mobile Money Network announced the appointment of Sir Stuart Rose as non-executive chairman and Lord Davies as a non-executive director. Stuart Rose is one of Britian's most successful retail leaders having turned around several major retailers. Lord Davies is a former Minister of Trade and before that was chairman of Standard Chartered Bank.
The Mobile Money Network is a joint venture between Monitise, Best Buy Europe and Charles Dunstone, founder of the successful mobile phone chain, Carphone Warehouse.
The first product to be offered is Simply Tap, this allows registered members to be able to buy any product or service via their mobile by simply entering a special product number. The service does not demand a sophisticated smartphone as the number can be sent via text, email or entered into a browser or App. The idea is that upon registration people enter identity details, card and / or bank details and main address to send items so leaving the product code and any validation as the only things required to be added for any particular transaction.
"The number of mobile subscribers across the globe has reached almost 5.5 billion with 750 million in Europe. This represents a massive commercial opportunity for retailers if they can take advantage of it," says Sir Stuart Rose, MMN Non Executive Chairman. "I am incredibly excited to be involved in the Mobile Money Network. It is a fresh concept set to act as a catalyst for three major industries € retail, banking and marketing. With Simply Tap, MMN is making the mobile a relevant, useful and fun part of an existing shopping experience. At a time when consumers are short of time but demanding instant gratification, this proposition delivers. The potential is huge and I look forward to the journey."
"Mobile Money Network is different as, from day one, we are bringing together businesses to collaborate and deliver a simple, unified and mass market proposition for consumers. We have the technology to enable more retailers to take advantage of the opportunity and provide consumers with a service they're calling out for," commented John Milliken, MD of Mobile Money Network.