Hi-Media Adds Payments Platform

France's Hi-Media Payments has formed a partnership with MobilePay, the micropayments platform built by the six largest Italian mobile operators - Fastweb, Poste Mobile, Telecom Italia Mobile, 3 Italy, Vodafone and Wind. The partnership will integrate Hi-Media's Allopass offering with MobilePay, expanding Hi-Media's mobile payments outreach in the country. BMI believes the Italian mobile payments market is set for strong growth, given the drive to develop VAS in Italy and the current low level of online banking penetration in the country. This bodes well for Hi-Media, which has suffered declines in share price due to its declining advertising business, although ongoing troubles in the eurozone pose risks.

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