First National Bank (FNB) in South Africa has announced its plans to introduce a new mobile payment device, mPowa, to its list of services
The new payment system will be operational, via a free mobile phone app and a reader attached to a smartphone or mobile device, that plugs into a headphone socket or connects via Bluetooth.
The bank said the device would enable companies and individuals to accept card payments from their customers on the go.
Dan Wagner, chairman and CEO of mPowa, said, “We’re delighted to have signed this important deal with First National Bank. It will enable them to mobilise thousands of their business customers which in turn will allow them to be much more flexible in how they do business. In today’s marketplace, nobody wants to be tied down to a fixed location.”
The agreement between the two companies would involve FNB implementing the mPowa tools and software into its merchant services, which would enable them to alter the look and identity of the card service while keeping intact the patented functionality offered by mPowa.
Jacques Celliers, CEO of FNB business banking, said, “We have recognised the need to support our merchants’ desire for mobility and convenience. We will be looking to mPowa to provide us with a robust and secure mobile environment that will appeal to our demanding and techno savvy customers.”
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