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19 November 2013

 

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mPowa boss Dan Wagner tells CARTES 2013 that global innovation is transforming the retail sector

First publishedCARTES
2013
Daily News
Industry analyst Gartner predicts that the mobile payment sector is poised to become a half-trillion-dollar global market in the next 18 months and mPowa chief executive Dan Wagner is positioning his company to capitalise on what he describes as “exponential growth.”

“In the US there are 27 million point‐of‐sale terminals which need to migrate to a chip‐based card system,” he says. “This provides an opportunity for retailers to upgrade not only their card readers, but also add a next‐generation platform infrastructure to support tablets, mobile phones and enhanced in‐store experience. We are in the midst of a retail revolution with a proliferation of ways through which retailers can engage with their customers, making payment more convenient and taking the transaction to the customer wherever they are. This will really improve customer engagement and boost sales.”

And, “while Europe and South-East Asia are leading the way in mobile payment technologies, the US is catching up fast. Powa Technologies recently closed the largest ‘Series A’ investment ever made into a UK technology company. The company received $76m from one of the world’s largest US investment management funds … underlining the scale of transformation for retail that will be brought about by secure mobile payments and in‐store personalisation.”
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