mPowa's Early Preparation for Chip and PIN Puts Them Ahead of Mobile Payment Rivals

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Apr 17, 2013, 02:14 ET

LONDON, April 17, 2013 /PRNewswire/ --

Steps are being taken 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.

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. 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.

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.

"We will be continuing our strategy of white labelling, so will be talking to the major banks and telcos 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."

mPowa will be exhibiting at Cartes America at the Mirage in Las Vegas on 23-25 April as part of its global expansion.

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 card reader.

http://blogs.wsj.com/tech-europe/2012/09/25/dotcom-veteran-hopes-to-end-ewallet-wars/

Interviews with Dan Wagner are available at the conference or on the phone.

For more information about mPowa or to arrange an interview, please contact Rani ([email protected]) at Flame PR on +44-203-357-9746 / +447590534173 or Jermaine ([email protected]) on +44-203-357-9743 / +44-7947541814 or [email protected]

http://www.mpowa.com

SOURCE mPowa