Powa Technologies acquires Znap

hongkong

Powa Technologies Group has acquired Hong Kong-based mobile expert MPayMe in a move that will vastly increase its global reach.

The merger between the two privately held companies will see Powa Technologies and MPayMe operate as a single global entity under the Powa brand to reach millions of customers and merchants across Europe, Asia and the US.

PowaTag, a mobile commerce solution that enables shoppers to complete purchases anytime, anywhere simply by scanning tags on anything from products to billboards, will now utilise ZNAP’s pbSecurePay app for global billing and mailing leader Pitney Bowes to enable instant payment for more than 23 billion utility bills a year.

The technology of MPayMe’s ZNAPwill be integrated into PowaTag to create a raft of new features with exciting applications.

CEO of Powa Technologies Group, Dan Wagner, said:  “With this combination of two innovative technology companies we will establish a position as the leading force in digital commerce worldwide.

“The integration of ZNAP technology with PowaTag will bring a phenomenal new scope to our provision, as well bringing enhanced functionality to its existing applications. By incorporating digital catalogues, coupons/vouchers, loyalty integration, and access control, and much wider product set, we are enabling true commercial freedom for both merchants and consumers.”

In the next three months, the two companies will be working to integrate technologies into a single unified and enhanced product offering.  Backward compatibility will be preserved, and there will be no additional requirements for merchants to deploy the enhanced offering.  A team of more than 50 experts in London and Hong Kong are currently working to deliver the world’s most advanced mobile commerce solution.

Alessandro Gadotti, founder and Group CEO of MPayMe, added:  “The combination of Powa’s product offerings, PowaPOS, PowaWeb, and PowaTag, and the ZNAP mobile business platform will revolutionise global commerce, and we are very excited about the future as a single company. Together we can offer advanced functionality that is unrivalled anywhere in the world, and which has already been embraced by over 500 merchants and brands worldwide. 

“Over the coming months you will see these merchants begin to deploy the technology and both merchants and consumers will begin to reap the benefits.”

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