Buse, 53, will join Monitise's board and work alongside founder and CEO Alastair Lukies, the company said on Wednesday.
Buse will head day-to-day operations, overseeing technology, product, sales and marketing, while Lukies will focus on key relationship with partners and industry stakeholders, corporate development and major shareholders, Monitise said.
Buse has held several senior positions at Visa before stepping down as an executive vice president in March.
Buse has been granted 5 million options over ordinary shares of 1 pence each as part of the company's performance share plan.
Shares in Monitise, whose customers include Telefónica, Samsung, MasterCard and Visa, were up 5.5 percent at 66.50 pence at 0745 GMT (3.45 a.m. EDT) on the London Stock Exchange.
(Reporting by Aastha Agnihotri in Bangalore; Editing by Gopakumar Warrier)
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