Below are excerpts from a press release regarding mPowa, which is a service which allows buinsesses to accept mobile payments. mPowa is expanding to South Africa.
Europe’s most successful mobile payments company, mPowa, is preparing itself for a year of further global expansion. The company, which recently signed the largest deal in its sector worldwide to supply its devices and payment infrastructure to First National Bank in South Africa, is positioned to be a key player in 2013.
mPowa is a service that allows companies to accept mobile credit card payments using their mobile phone as an electronic till. It includes a mobile phone app and a reader which connects to a smartphone or mobile device via Bluetooth. In 2013, it looks to take a commanding share of the $15 trillion global credit and debit card acceptance market.
mPowa was the first mobile payments solution in the UK market and is expected to dominate in the global market with the introduction of its market leading Chip & PIN technology. Chip & PIN has already replaced outmoded magnetic swipe readers in the UK, Europe and Asia, and other markets such as the US will be migrating soon. mPowa’s patented credit card reading devices will maintain their market leading position as early adopters and innovators. Some competing firms operating in the mobile payments arena have yet to make their commitment to Chip & PIN.
With the addition of several new mobile payment players, 2013 may be the year where a clear leader emerges. Square, Paypal, and Intuit are currently big names in the field in the United States.
Dan Wagner, Chairman and CEO of mPowa, said, “We are really pleased with the recent success we have had with mPowa and the strong demand from a wide variety of sectors including banks, telcos and other partners on a daily basis. Security is a concern for companies of all sizes which is why it has been important for us to invest heavily in this area to ensure that our product is safe, robust and compliant with the industry regulating bodies. But going beyond this, we have led the field because we have a product that is easy to use and allows businesses to operate in new ways.
“We are entering a new global paradigm in business whereby operatives are no longer satisfied with having a physical office in which all deals must take place. Enterprise is expanding beyond the four walls of the company headquarters and businesses therefore need tools that facilitate a much more mobile and fluid sales team. As we infiltrate new markets around the world, we expect to roll out our offering on a wider scale and enable businesses to benefit from our market leading product.”
mPowa is available on all major mobile platforms. The Blackberry and Windows Phone versions are currently invite only.