Competition and activity continues to heat up in the mobile payments market. mPowa has signed a white-label deal with Portugal Telecom for the carrier to resell mPowas services as the centrepiece of its own mobile payments solution.
The exact financial terms of the deal were not disclosed, but mPowas CEO Dan Wagner says 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 Telecoms footprint across Europe, Latin America and Africa.
Wagner says that mPowa is preparing to announce additional customers later this year. He says that discussions with more carriers, as well as with banks, are in late stages after the company has been inundated with requests for partnerships.
Carrier partnerships are a natural and increasingly used channel for mobile payments companies to scale up their businesses. Square works with AT&T to resell its dongles, and in the UK iZettle works with EE.