Digital payments firm Monitise waves goodbye to yet another senior executive; share prices down 88% YTD

Mobile currency firm Monitise Plc (LON:MONI) is experiencing more strife at the top as its Chief Financial Officer has now announced his plans to leave the company. Brad Petzer, who joined the firm in April 2013 after having been Group Financial Controller at Telecity Group PLC for eight and a half years. Mr. Petzer continues […]

Mobile currency firm Monitise Plc (LON:MONI) is experiencing more strife at the top as its Chief Financial Officer has now announced his plans to leave the company.

Brad Petzer, who joined the firm in April 2013 after having been Group Financial Controller at Telecity Group PLC for eight and a half years.

Mr. Petzer continues to hold the position of Finance Director at Maximi Ltd, a role that he has been in for thirteen years.

Monetise, whose core business is mobile payment provision via handheld devices such as smartphones and payment terminals, partnered with Banco Santander, S.A. (BME:SAN) in the summer of this year in order to concentrate on fintech developments within the banking sector, a deal which netted Monetise a multi-million pound license fee, paid in advance.

Despite the potential, and obvious institutional demand for such systems, the company continues to experience outflows of experienced senior executives, including those at the very top level. In March, Alastair Lukies, the Monitise’s founder and co-CEO exited the company, followed by then sole CEO Elizabeth Buse who departed in September.

So much unrest among the senior ranks, and Visa’s decision to shelve its plans for a commercial relationship with Monetise has been damaging for the firm, with its share price 88% down for the year to date.

  • Read this next

    Fintech

    AU10TIX launches KYB solution to address regulatory requirements

    “Our customers have been requesting a comprehensive KYB solution, because money laundering and fraud have become far too prevalent in the corporate world. Our unified KYB/KYC solution is essential for identifying bad actors and maintaining a safe business environment in 2024.”

    Digital Assets

    Japan Is Rapidly Emerging As A Global Leader In Compliant Crypto Payments

    Japan is often hailed as one of the most forward-thinking nations in the crypto industry, with its government taking a very positive stance on the potential of concepts such as Web3. 

    Digital Assets

    Kraken launches institutional arm

    “If you already work with Kraken, you know how much we care about offering high quality products and a client-first experience. We’ve been the leading crypto exchange for more than a decade and through Kraken Institutional, we’ll offer the same deep expertise and cutting-edge technology to propel trading excellence for institutions.”

    Fintech

    Centroid integrates with brokerage solutions provider GTN

    “We are thrilled to integrate GTN into Centroid Bridge, our multi-asset connectivity bridging engine. This integration allows our clients to gain access to the wide range of multi-asset products offered by GTN.”

    Podcasts, Women of the Industry

    FF Podcast delves into the rise of prop trading as Brokeree releases Prop Pulse

    In the latest FinanceFeeds Podcast, Tatiana Pilipenko discusses Prop Pulse, Brokeree Solutions’ platform for prop firms and retail brokers aiming to delve into prop trading. Offering a flat fee structure, Prop Pulse emerges as a scalable solution in an era where successful traders increasingly prefer prop firms over traditional retail brokers.

    Inside View

    Scalping or day trading?

    Among the many popular trading styles with both beginners and experienced traders are scalping, which allows you to extract small portions of profit from each price movement, and day trading, which aims to trade over a single day. In this article, you will learn what scalping and day trading are and their differences and peculiarities. Ultimately, you will learn what to look for to understand which trading style is right for you.

    Crypto Insider

    Unveiling Plasma Next: INTMAX’s Solution to Scale Ethereum with Stateless Layer

     INTMAX has launched Plasma Next on the mainnet α, a groundbreaking Layer 2 zkRollup, revealed by co-founder Leona Hioki at ETH Denver. This innovation offers scalability with constant costs per block, merging Plasma’s scalability goals with zkRollups’ security.

    Fintech

    Nuam selects Vermiculus for clearing system in Chile, Colombia, and Peru

    “We are proud to deliver a system that plays an integral role in the core of this historical merger, empowering one of Latin America’s most crucial markets with VeriClear’s state-of-the-art technology, together with our deep market expertise.”

    Retail FX

    Moomoo launches super app in Malaysia

    “As an investment platform connecting 21 million retail investors globally, we envision collaborating with exchanges, regulatory bodies, and partners in the visible future to become the gateway, connecting Malaysia’s investment products to global capital and investors.”

    <