The mPowa mobile payment service, which was announced earlier this year, is now available on Apple iPhone and iPad devices. Individuals and organisations that want to take credit and debit card payments can download the app and register their details to receive a plug-in card reader.
There’s no cost for the app or for the reader. However, unlike some competing services, users require a merchant account with a bank. Customers with a merchant account will just pay mPowa a 0.25% transaction fee on each payment; those without a merchant account can arrange one via mPowa, paying 2.95% per transaction plus a 25p charge.
Card payments are processed using the magnetic stripe, meeting the PCI Level 1 security standard, with a ‘Chip & PIN’ device planned for later this year.