The UK-based Mobile Money Network, which is behind the Simply Tap mobile shopping app, says Visa Europe is planning to take a 15% stake in its business. Visa Europe will join the MNN’s three founders: Monitise, Best Buy Europe and Charles Dunstone.

The two businesses aim to implement a number of m-commerce initiatives in the UK in 2012.

The Mobile Money Network has launched its ‘Simply Tap’ shopping application for Android and Apple devices.

Customers who set up a Simply Tap account (including payment details) can then buy products just by entering a short code into the app. The sale is then confirmed, payment is taken and the product is delivered to the customer’s chosen address.

This week sees Iain taking a rare break from The Fonecast, so it’s up to Mark and James to hold the fort. They start with Nokia’s Windows Phone announcement before moving on to Visa Europe’s big investment in mobile payments, Sony’s split with Ericsson, Samsung’s smartphone success, a new design-led BlackBerry and some wide-ranging patent news from Apple.

Listen to the programme on our website audio player, via iTunes, by subscribing to our RSS feed or by downloading the MP3.

With Iain away this week, Mark and James discuss the week's mobile industry news - from Nokia's new Windows Phone handsets to Samsung's success and a multi-million pound investment in mobile money.

Mobile banking and payment company Monitise plc has announced a £24.7 million investment from Visa Europe.

As part of the agreement, Visa Europe President and Chief Executive Peter Ayliffe will join Monitise as a non-executive director. Monitise already has a relationship with Visa Europe and with Visa Inc.