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mPowa considers launch in Brazil


UK firm mPowa is looking to launch in Brazil, as part of its strategy of targeting emerging markets with its service that enables businesses to accept payments on smartphone or tablets.

The firm aims to repeat a recently announced deal with First National Bank in South Africa whereby it agreed to supply the bank with card readers and payment infrastructure.

CEO and chairmanDan Wagner said mPowa is seeing strong demand from a variety of sectors including banks, telcos and other partners.

The company sees South America as one of the fastest growing markets for mobile payments technology.

In a recent interview with Techcircle, Wagner said the firm was looking to expand into India where it also sees a market for its service.

Meanwhile High-profile firm Square is taking a lead with such services in the crowded US market and iZettle is attempting a similar approach in Europe.

However, many emerging markets already boost indigenous firms offering such services. For instance, Indian firm Mswipe says it is adding 1,500 merchants per month and has already signed up a total of 4,000 merchants.

The card reader market is relatively easy to enter so encouraging new entrants to try their hands.

Other competitors in the Indian market include PayMate Inida, Ezetap Mobile Solutions and iKaaz Software.

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