How they describe themselves: MPOWER Mobile is an international mobile payments company dedicated to empowering underserved consumers. By harnessing the mobile phone’s ubiquity and universal functionality like SMS, MPOWER Mobile delivers financial services through the mobile handset – including the ability to send money, accept payments and make purchases – to consumers anywhere in the world. Based in Austin, Texas, MPOWER Mobile is backed by MPOWER Ventures.
How they describe their product/innovation: Convert a mobile phone into a Point of Sale (POS) terminal with Rêv COIN, a simple, powerful card acceptance solution for entrepreneurs unable to afford traditional POS systems. By integrating a portable card reader with MPOWER Mobile’s YAP Accept, COIN quickly and seamlessly processes card-based payments through existing payment networks. And, COIN works for merchants of any size in young and mature markets alike with support for advanced handsets and basic models. With COIN, more entrepreneurs can seize economic opportunities beyond the reach of cash-based businesses, and a growing acceptance footprint means more cards accepted at more businesses in more places around the world.