Powa acquires MPayMe; targets global expansion, new services

Powa acquires MPayMe; strikes Nordic partnership

16 JUN 2014

Ambitious UK-based commerce specialist Powa Technologies announced the acquisition of Hong Kong’s MPayMe to expand its global reach and tap into new markets.

The merger will see Powa Technologies and MPayMe operate as a single global entity under the Powa brand.

MPayMe’s Znap  technology will be integrated into PowaTag. The Znap mobile app enables users to scan QR codes to make a number of different payments through their smartphones, including bills, as well as online and in-store purchases. PowaTag, a mobile commerce solution, also enables shoppers to complete purchases by scanning tags.

It has been a busy few days as Powa also announced an agreement with Teller, which claims to be the leading international card payment acquirer in the Nordic region.

The partnership will enable Teller to offer more options to its merchant base – PowaTag can be embedded in printed tags, printed media, billboards, TV and radio broadcasts.

Back to the MPayme deal, Powa claims the integration will create a “raft of new features with exciting applications”.

Targeting the utility billing market seems a priority. Powa said it would use Znap’s pbSecurePay app for global billing – as well as mailing leader Pitney Bowes – to enable instant payment for more than 23 billion utility bills a year.

With Pitney Bowes facilitating 80 per cent of utility bills in the US and more than half in Europe, Powa said it would reach tens of millions of new customers around the world.

Other possibilities through the combination of Znap and PowaTag, said the UK-based firm, include instant purchasing capability to “everything from food to event tickets”.

The integration is also designed to enhance customer loyalty, allowing relevant vouchers to be automatically flagged and used during purchases.

Dan Wagner, CEO of Powa Technologies Group, said: “With this combination of two innovative technology companies we will establish a position as the leading force in digital commerce worldwide. By incorporating digital catalogues, coupons/vouchers, loyalty integration, and access control, and much wider product set, we are enabling true commercial freedom for both merchants and consumers.”

The two companies will work to integrate technologies into a single unified and enhanced product offering over the next three months.

Financial details of the deal were not disclosed.

Author

Ken Wieland

Ken has been part of the MWC Mobile World Daily editorial team for the last three years, and is now contributing regularly to Mobile World Live. He has been a telecoms journalist for over 15 years, which includes eight...More

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