mPowa has signed a white label deal with Portugal Telecom for the carrrier to resell its mobile card reading dongle to local merchants and financial institutions.
Financial terms were not disclosed, but mPowa's CEO Dan Wagner tells TechCrunch
that the deal is for seven years, worth multiple millions of dollars as a minimum commitment, and potentially covers some 100 million people across Europe, Latin America and Africa.
While competitors Square and iZettle aim for critical mass in North America and Europe respectively, mPowa is looking to build out its service in international markets through white label deals with telcos and banks. The company has been exploring partnerships in Africa, Asia, South America and Europe
Wagner tells TechCrunch that discussions with more carriers, as well as with banks, are in "late stages" after the company has been "inundated" with requests for partnerships.