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mPowa Plans for Further Growth with Strong Demand from the U.S.

London—Dec. 28, 2012—Mobile payments company Powa Technologies Ltd. (mPowa) prepares itself for a year of further expansion in the US. as it expects the American market to be one of the fastest adopters of its mobile payment technology. By adopting mPowa’s mobile point of sale (POS) solution, businesses in Arizona operating across a wide spectrum of sectors will be able to eliminate delays in payments by getting paid at the point of sale and reduce debt.

“We are really pleased with the recent success we have had with mPowa in the U.S. and the strong demand from a wide variety of sectors including banks, telcos and other partners on a daily basis,” said Dan Wagner, Chairman and Chief Executive Officer, mPowa. “Security is a concern for companies of all sizes which is why it has been important for us to invest heavily in this area to ensure that our product is safe, robust and compliant with the industry regulating bodies. But going beyond this, we have led the field because we have a product that is easy to use and allows businesses to operate in new ways.”

A service that allows companies to accept mobile credit card payments using their mobile phone as an electronic till, mPowa includes a mobile phone app and a reader which connects to a smartphone or mobile device via Bluetooth. In 2013, the company looks to take a commanding share of the $15 trillion global credit and debit card acceptance market. Additionally, mPowa is expected to dominate in the global market with the introduction of its market leading Chip & PIN technology. Chip & PIN already replaced outmoded magnetic swipe readers in the United Kingdom, Europe and Asia—and other markets such as the U.S. will be migrating soon. mPowa’s patented credit card reading devices will maintain their market leading position as early adopters and innovators. Some competing firms operating in the mobile payments arena have yet to make their commitment to Chip & PIN.

“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,” continued Wagner. “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.”

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