mPowa’s Android app and reader allows users of the smartphone platform to make and accept credit card payments on the move wherever they are. It is the latest entrant vying to become the de factor solution in a mobile payment sector that’s fast becoming saturated with options for merchants and consumers alike.
The app is looking to take advantage of some recent trends unveiled in a Kantar Worldpanel ComTech report undertaken in July. It noted Android had notched up at least half of smartphone sales in a number of countries worldwide including Great Britain, Germany, France, Italy, Spain, US and Australia.
Transaction between merchant and consumer use the mPowa mobile app and reader. The app is free to download and available anywhere in the world. When the app is used in conjunction with the reader it basically converts the mobile phone into a point of sale device, which enables credit and debit card payments to be accepted on the go.
Communication between reader and Android device occurs through either the headphone socket or Bluetooth. Payment details are stored by swiping the card’s magnetic strip or through Chip and PIN technology, which prompts the customer to enter their PIN code when the card is inserted.
Founder and CEO of mPowa, Dan Wagner, aims to empower all business transactions with his product. “It will enable all businesses everywhere, from the smallest to the largest, to take payments immediately and effortlessly, wherever business is transacted.”
App and reader are currently available for free with other platforms such as iOS, BlackBerry and Windows devices already supported. However, merchants will have to accept a processing fee if they use the mPowa service.