Apple expected to face tough competition in mobile payments, claims Powa Technologies

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This Friday the Apple iPhone 6 is set to hit the shelves in Europe amid much fanfare and media attention. As Apple’s share of the smartphone market faces stiff competition from the likes of Android and Samsung, the company has decided to enter the final frontier of e-commerce, which is mobile commerce, with Apple Pay. This bold move to enter an already crowded mobile payments market, has met with scepticism from some industry observers, says  Powa Technologies.

The e-commerce landscape in mobile payments is expected to be worth more than £721bn by 2017. The sector is already saturated by a variety of different players including banks, retailers, and technology companies all offering their own solutions, leaving companies and merchants with a bewildering array of options.

Dan Wagner, e-commerce veteran, CEO and founder of Powa Technologies, said: “Consumers are finding themselves increasingly swamped by mobile payment apps. They don’t want thousands of different apps that can each be used in a couple of different places – they want one universal app they know they can use anywhere. Just as wallets are stuffed with store cards, users are being asked to fill their smartphones with individual payment apps they will rarely use.

“Retailers are likewise faced with the difficult decision of which mobile payment service to choose, with no assurance that the system will go the distance and be worth the investment. Without a clear and universal choice, how can they be sure they have picked a VHS and not a Betamax?”

“Consumers will be seduced by the ease and convenience of using one app across all platforms and the winner will be the app that secures universal adoption right across the retail landscape.”

Powa Technologies says its PowaTag app offers a union of different technologies fused into one application – consumers need to only download one app and the service requires no infrastructure costs on the part of retailers, and allows for seamless adoption into current retailer infrastructure.

PowaTag gives shoppers the power to complete purchases anytime, anywhere using a variety of triggers, with sales finalised in just three seconds using pre-entered payment and address information, the company reports. By using a variety of technology, including QR codes, java script, iBeacons, near field communication (NFC) and embedded audio tags to enable instant purchasing both in-store and on the move, PowaTag has the potential to be a ubiquitous app serving as a common standard for both retailers and consumers, Powa Technologies claims.

Such mass market potential has already resulted in the PowaTag working with over 800 international retailers and brands who are laying the foundations for the next wave of the retail revolution, the company reports.