The company behind the PowaTag mobile payments platform has gone into administration, the Financial Times reports. Powa Technologies CEO Dan Wagner “sent an email to staff on Friday telling them that Wellington Management, its largest investor, had called in loans that it had made to the company and forced it into administration,” the publication says. The news follows reports late last week that the company had failed to pay its staff and suppliers.
- Beijing offers public transport users discounts to encourage digital yuan fare payments
- Major banks, retailers and fintechs to support rollout of national QR payments and rewards system in Australia
- Circle K adds checkout-free shopping at US convenience stores
- Apple Pay goes live in Bahrain
- Three in four UK consumers want to set their own contactless spending limit
This article is more than five years old