mPowa's Early Preparation for Chip and PIN Puts them Ahead of Mobile Payment Rivals
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mPowa's compatible device leads the market as 2013 sees the US make its most significant steps towards the conversion to Chip and PIN
New steps are being taken this year to increase the rate of change toward Chip and PIN, also known as E.M.V. smart cards (Europay, MasterCard and Visa), bringing US banking in line with other parts of the world and making the experience of US customers abroad significantly easier.
mPowa's Chip and PIN compatibility has thrust them ahead of competitors in the US as the country progresses towards a conversion to E.M.V. cards. mPowa's device is also swipe and sign compatible, placing them in an ideal position to provide compatibility with either service throughout a transition that will take a number of years. Providing a device that can accommodate either system will make mPowa an appealing partner for banks and telcos with whom they are looking to white label their device. A 'ready to go' device that can support the transition of banks and telcos as the industry goes through this large scale overhaul is likely to gain significant buy-in from banks across the US in the coming months.
Dan Wagner, mPowa CEO and Chairman said, "The US market is at an exciting place for us right now. They are on the precipice of a huge change, and mPowa is the only mobile payments device that can fully support this transition. Compatibility with both Chip and PIN and magstripe will be an absolute prerequisite as the transition begins, so our current capabilities are placing us in a very promising position in talks with US banks and telcos."
Dan continued, "We will be continuing our strategy of white labelling, so will be talking to the major banks and telcos in the US about producing mPowa for their organisation. This will therefore put them in a position where they in turn are ahead of the curve, and able to offer their customers a service that will make their business more efficient. Being able to accept payments from any location and on the move is a step into the future, however, if a business can only take payment from a certain type of card, that somewhat belittles this step. Our customers will not have this concern, so having signed a first of its kind deal in Europe, we look to be at the cutting edge of the market in the US."
Having been the talk of the exhibition at Cartes Asia last month, mPowa will be following up on their success with an exhibition at Cartes America, where they will be continuing to build their relationships that will see them expand their current presence in Europe, South America and Asia, to gain a foothold in the mobile payments market in the US.
mPowa will be exhibiting at Cartes America at the Mirage in Las Vegas on 23-25 April as part of its global expansion. mPowa will also be speaking at the conference sharing innovation from projects in Europe, Africa and Latin America. mPowa will be available for press interviews and discussions with interested parties looking to implement mobile payment solutions into their businesses.
Interviews with Dan Wagner are available at the conference or on the phone.
About mPowa (www.mpowa.com)
mPowa is a point of sale device that enables credit and debit card payments to be made on the go. It consists of a mobile phone app for iPhone, iPad, Android, Windows or Blackberry devices, and a ubiquitous card reader which is chip and PIN, Chip and sign, Swipe and PIN and Swipe and sign ready. It is the first service of its kind in globally.
mPowa was reviewed by The Sunday Times as its gadget of the week: http://www.thesundaytimes.co.uk/sto/ingear/Tech___Games/Gadgets/article1099897.ece.
mPowa was created by multi award-winning serial entrepreneur Dan Wagner. Dan set up mPowa as the mobile off-shoot of his ecommerce and web publishing platform for small businesses called Powa Technologies. Previously, he established Venda – the world's largest 'on demand' ecommerce provider - and Locayta – sophisticated search and profiling technology - both are now global leaders in their fields.
