Visa Acquires Fundamo, Inks a Deal With Monitise

In a pair of mobile moves, Visa today announced its acquisition of Fundamo, a mobile banking platform for developing nations, and an agreement with Monitise, a provider of, among other things, mobile-based person-to-person payments. Price of the deals was not disclosed. The moves come on the heels of Visa’s late-April investment in Jack Dorsey’s Square, a mobile payments platform for iPhone and iPad.


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Just as the atom bomb was the weapon that was supposed to render war obsolete, the Internet seems like capitalism’s ultimate feat of self-destructive genius, an economic doomsday device rendering it impossible for anyone to ever make a profit off anything again. It’s especially hopeless for those whose work is easily digitized and accessed free of charge.

— Author Tim Kreider on not getting paid for one’s work