As reported in TechCrunch, U.K. firm mPowa has signed a deal with Portual Telecom which will see the European telecoms firm reselling mPowa’s mobile payments services. The deal is rumored to be for many millions of dollars as a minimum, and could cover up to a hundred million potential customers across the nations where PT operates. Unlike some peers mPowa’s smartphone credit card payment technology can use the chip-and-PIN secure digital credit card system used widely in Europe.
Innovative mobile pay market leader Square operates in the U.S. and has achieved success with some 2.5 million customers. Portugal Telecom is the ex state-owned de facto monopoly landline telecom provider in Portugal, but operates significantly across the world–and Portugal itself is a highly digitized society that already has widespread acceptance for mobile payments through its nationwide Multibanco ATM system.
[Image: Flickr user pedrosimoes7]