Square's Newest Competitor Is mPowa

It seems like in this current environment, there is a brand new entry in the mobile credit card payment market every day. It started with Square, and now everyone wants a piece of the action. The latest one to enter the fray is mPowa, which admittedly does bring some functionality and accessibility that Square and others have failed to offer. It's also cheaper.

Of course, the reality of competing against Square might prove problematic. So what are these enhanced benefits and features that mPowa offers? For starters, it not only allows customers to pay for purchases with a credit card, but it can also accept payments from customers who have a chip or PIN enabled payment method. In addition, its related app is available on Android and iPhone as well as Blackberry and Windows Phone.

The transaction fee is only 0.25% per purchase. "Our main focus are those businesses who already take cards but lack the mobile point of sale facilities to make transactions on the go, the Whirlpools or charities of the world. Now they can make home visits or collect money anywhere," mPowa founder and CEO Dan Wagner said in an interview with TechCrunch.

[via TechCrunch]