Dan Wagner serial entrepreneur and founder of e-commerce business Venda has launched a new mobile-based payment system mPowa. The service includes a downloadable app and a card reader that turns any mobile phone in to an intelligent till.
mPowa launched in the UK and US simultaneously costs just 25 p or 0.25% per transaction and the system can be up and running in just a few minutes using your current banking relationship.
Dan Wagner, CEO of Powa Technologies said, "We created mPowa as a response to an age-old problem that needed a solution – a universal payment system that will enable anyone to accept money from customers without excessive costs or waiting times. Whether you are a large enterprise looking to mobilise your sales team, a market trader, or a local plumber who wants to accept payment on the spot, even from customers who don't have cash to hand, this is a unique offering that will have a huge impact right across the country," stated Wagner.
Both the mobile app and reader are free and the only cost associated with using mPowa is the small 25p or 0.25% fee charged for each credit or debit card payment processed, making it accessible to all businesses. And because it accommodates existing banking relationships, there's no need for a business to change its banking details to use the service.
A web-based Merchant Dashboard account management system enables users to fully monitor payments in addition to the mobile app. Meanwhile, receipts can be sent by email or SMS.