mPowa to encroach US market share of Mobile Payment Service: Powa Technologies

Telecom Lead America: Powa Technologies, owned by
British e-commerce serial entrepreneur Dan Wagner, has launched a new mobile
payment service called mPowa, which the company claims will pose a serious
challenge to those already operating in the sector.

By capitalizing on weaknesses of Square, the current
American market leader, the company claims that mPowa will encroach on the
market share held in the US.

“The rich e-commerce heritage of the company borne
out of supplying solutions to major global brands and the extensive knowledge
we have of the US marketplace has enabled us to create a service that has
really differentiated us from what is already available.” said Dan Wagner,
chairman and CEO of Powa Technologies.

mPowa service includes a mobile phone app and a reader
which connects to a smartphone or mobile device either by plugging into its
headphone socket or via Bluetooth.

It allows merchants to take payments on the go and will
appeal to a wide range of businesses. Also, thee app monitors payments made by
card as well as cash and cheque, as well as processing each transaction

Powa Technologies says that its new service is the first
service of its kind to enable businesses who already accept card payments,
through their existing banking arrangements, to now have the benefit of mPowa’s
mobility. Unlike Square, mPowa also caters for Chip & PIN cards.

Both the mobile app and reader are free and the only cost
associated with using mPowa is the small 0.25 percent fee charged for each
credit or debit card payment processed.

The mobile app is free to download on iPhone, iPad,
Android, Windows and Blackberry devices.

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