mPowa looking to dominate mobile payments market


The UK mobile payments company says it will dominate the global market this year through the promotion of its chip & PIN technology

UK mobile payments company mPowa is set to further expand its presence in Europe this year, as experts predict an explosion in the number of transactions made through smartphones and other mobile devices.

The company was the first to offer mobile payments solutions in the UK and expects to increase its market share in 2013, largely due to its chip & PIN technology.

Its service allows companies to accept mobile credit card payments using their mobile phone as a till, by using a mobile phone application and a reader which connects to a smartphone or mobile device via bluetooth.

mPowa recently signed a deal to supply devices and payment infrastructure to First National Bank in South Africa, its largest contract to date.

Chairman and CEO Dan Wagner 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.

“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.”