Under the scope of the MoUs, Handpay, a mobile payments specialist, China Rewards, a leading loyalty program provider, and Monitise will cooperate to deliver exciting new mobile opportunities to their respective customers both inside and outside the China market.

The agreement between Handpay and Monitise will combine the strengths of Handpay's links to local payments networks, banks and service providers in China with the international connectivity and global relationships of Monitise. The partnership aims to make it easier for customers to manage their money using the mobile phone as a highly convenient and secure channel. It will also deliver a simple and quick to implement mobile banking and payments solution to partner financial institutions, which is expected to appeal in particular to small and medium sized local banks as well as international banks operating in China.

Monitise Chief Executive Alastair Lukies said: "We are proud to be partnering with China Rewards and Handpay. These agreements represent compelling validation of our experience in running secure mass market, bank grade mobile commerce systems as we focus on developing strategic partnerships in key territories as part of our global growth strategy."

"We are excited by the potential to provide enhanced mobile services to our customers through this partnership with Monitise Asia Pacific," said Amalisia Zhang, CEO of Handpay.

Jeff Ding, Chief Executive China Rewards, said: "I am very pleased that we have signed our MoU with Monitise Asia Pacific and we look forward to enabling our members to benefit from the increasing potential of rewards delivered through the mobile."

Under the terms reached with China Rewards, Monitise will offer banks which use its mobile banking and payments services the ability to create value adding propositions for their customers, leveraging the power of the mobile and China Rewards' extensive portfolio of merchant offers and loyalty programs.

The MoUs have been entered into by Monitise Asia Pacific, the joint venture formed in April 2010 with First Eastern, a Hong Kong-based investment group pioneering in the field of direct investments in China.

Darren Sugden, Chief Executive of Monitise Asia Pacific, said: "We have ambitious plans for the region and these two agreements will establish important links with the largest market in the world which is already leading the way in mobile commerce."

He added: "Our collaboration with these two proven and innovative companies in China, allows Monitise to further enhance the market-leading mobile banking and payments capabilities made available through our global network of international partners and connections."