Square Competitor mPowa Signs Up Portugal Telecom In Multi-Million-Dollar, 7-Year International Deal

Competition and activity continues to heat up in the mobile payments market. UK-based mPowa -- a mobile payments provider that, like Square and others, provides a dongle that merchants can attach to a mobile device to process card payments -- has signed a white-label deal with Portugal Telecom for the carrier to resell mPowa's services as the centerpiece of its own mobile payments solution. The exact financial terms of the deal were not disclosed, but mPowa's CEO Dan Wagner tells TechCrunch that the deal is for seven years, worth multiple millions of dollars as a minimum commitment, and potentially covers some 100 million people -- the size of Portugal Telecom's footprint across Europe, Latin America and Africa.

Source: http://feedproxy.google.com/~r/Techcrunch/~3/T06UNQAx05k/

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