Payment Observer

The Latest News, Industry Insights and Research Findings on Global Payment Markets

27Jan/12

Square-Like Mobile Card Reader mPowa to Start in the UK

By Gary Merrett

Need a cash or credit card processing solution for your business? Payment Observer has more details you can learn by visiting their website.

mPowa.

The features, and also the reader itself, seem to be a copy of the established card processing service Square, wich is available in the US only. According to the company’s website, the free card reader adapter, in conjunction with an app, will enable iOS, Android and BlackBerry devices to process credit card payments. mPowa will take a 0.25% cut (with a minimum of 25p) of each transaction. This is a very competitive pricing, although the fee for the acquiring bank is not included. In comparison, Square charges 2.75% for each swiped transaction including bank fees.

There is a huge market for mobile payment and with NFC being far from ubiquitous, accepting credit payments via a card reader and an app on a smartphone can become a worldwide success story.

Check out the video below see how mPowa works:

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