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May 26, 2015updated 04 Apr 2017 4:02pm

Danske teams up with PowaTag in new cashless solution

Denmark-based Danske Bank’s MobilePay app has joined forces with PowaTag’s to implement its ‘buy anywhere’ capabilities.

By Patrick Brusnahan

Denmark-based Danske Bank’s MobilePay app has joined forces with PowaTag’s to implement its ‘buy anywhere’ capabilities.

Over two million Danes use MobilePay, the free mobile app that allows peer-to-peer (P2P) money transfers and mobile purchases in store and online. The app is currently the leader in this market with over 12bn kroner ($1.7bn) transacted on the platform from launch.

The PowaTag platform, which has already partnered with over 1,200 companies, adds a new level of engagement to MobilePay and enables instant purchases through a variety of triggers, including QR codes and audio signals. PowaTag claims that this can reduce the purchasing process to two taps on their phone.

Mark Wraa-Hansen, head of the MobilePay division at Danske, said: "The Danish people are incredible switched on to the huge potential of mobile payments, as demonstrated by the fact that two out of three smartphone users now use our solution. With PowaTag we can over time take MobilePay to the next level with a new set of services. The speed and convenience of PowaTag make it an ideal fit with the services that have made MobilePay so popular."

Dan Wagner, founder and CEO of Powa Technologies, said: "Integrating Powatag’s singular ability to turn any form of media into an instant point of sale will further cement Danske Bank’s position at the forefront of mobile payments without compromising its decision not to charge customers."

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