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October 1, 2012 01:41 pm GMT
Square is gearing up to launch its first international services by the end of this year, but in the meantime, one of its many dongle-based mobile payment competitors is building up outside of the U.S. Today mPowa -- who you may recall from "hand-gate" -- announced that it has signed a white-label deal with First National Bank in South Africa to offer its payment device in the country. The exact financial terms of the deal were not revealed but mPowa says its value is in the "multimillion pound" range. This is the first announced deal for UK-based mPowa, which is building its multiplatform (Android, iOS iPhone and iPad devices, Windows Phone and BlackBerry) mobile payments service both as a retail and wholesale/white-label offering.Under the terms of the deal, FNB will integrate mPowa's hardware and software into its existing merchant services, with FNB's own branding and look. mPowa's founder and CEO Dan Wagner tells TechCrunch that it is also working with several other financial institutions for similar products in Europe, the U.S., and Asia, as well as other markets in Africa.
Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YuEnRyjpkiA/
Square Competitor mPowa Inks Multi-Million-Dollar White Label Deal With First National Bank, South Africa
Square is gearing up to launch its first international services by the end of this year, but in the meantime, one of its many dongle-based mobile payment competitors is building up outside of the U.S. Today mPowa -- who you may recall from "hand-gate" -- announced that it has signed a white-label deal with First National Bank in South Africa to offer its payment device in the country. The exact financial terms of the deal were not revealed but mPowa says its value is in the "multimillion pound" range. This is the first announced deal for UK-based mPowa, which is building its multiplatform (Android, iOS iPhone and iPad devices, Windows Phone and BlackBerry) mobile payments service both as a retail and wholesale/white-label offering.Under the terms of the deal, FNB will integrate mPowa's hardware and software into its existing merchant services, with FNB's own branding and look. mPowa's founder and CEO Dan Wagner tells TechCrunch that it is also working with several other financial institutions for similar products in Europe, the U.S., and Asia, as well as other markets in Africa.Original Link: http://feedproxy.google.com/~r/Techcrunch/~3/YuEnRyjpkiA/
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