Monitise and Metavante are working with Carphone Warehouse to launch a mobile money scheme. The launch will see the introduction of a Carphone Warehouse prepay card, managed directly from the mobile phone, that can be used to shop in millions of outlets worldwide.

The service will include full mobile management, similar to that used by customers of many of the UK’s major banks to manage their money on the move. Using a secure application stored on the mobile handset, customers will be able to top-up their card directly from their bank account while, also keeping a close eye on their recent transactions.

“Prepay cards really represent a revolution in consumer finance. In the US we already process more than 80 million payment cards for consumers through a whole range of distribution partners,” says Frank Martire, president and CEO, Metavante Corporation.