International commerce specialist Powa Technologies has announced the acquisition of Hong Kong-based mobile expert MPayMe, enabling the company to increase its reach to a global scale and provide the retail, telecoms and utility industries with its payment solution.
The merger will see MPayMe absorbed into the Powa brand, and its ZNAP technology integrated into Powa's PowaTag commerce solution that enables shoppers to complete purchases by scanning tags placed on products, point-of-sale displays or billboards. The service was recently introduced by French fashion retailer Comptoir des Cotonniers, which created 10,000 'virtual boutiques' in a single night.
With the ZNAP technology added, the company hopes to expand PowaTag's instant purchasing beyond retail to sectors from food to event ticketing. The integration will also add customer loyalty and reward functionality, and the ability to buy a selection of products using a single PowaTag.
"With this combination of two innovative technology companies we will establish a position as the leading force in digital commerce worldwide," said CEO of Powa Technologies Group, Dan Wagner. "The integration of ZNAP technology with PowaTag will bring a phenomenal new scope to our provision, as well as 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."
The merger will also see PowaTag utilising ZNAP's phSecurePay app for Pitney Bowes, the billing and mailing company, enabling instant payment for over 23bn utility bills a year. Pitney Bowes facilitate more than half the utility bills paid in Europe, and 80 per cent of those in the US. The company will also provide this service to Taiwan Mobile, enabling its 5m customers to pay using PowaTag. MPayMe already handles bill payment for mobile solutions company Oxygen8.
Currently, a team of over 50 experts from both companies are working to integrate their technology into a single unified offering which maintains backward compatibility. The technology is expected to be ready for deployment within three months.
"The combination of Powa's product offerings...and the ZNAP mobile business platform will revolutionise global commernce, and we are very excited about the future as a single company," said MPayMe founder and group CEO Alessandro Gadotti. "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."