Wednesday, 5 March 2014

PowaTag Could Be 'The Next Facebook Or Google' Says Founder

Powa Technologies, the group behind PowaTag, finally launched its product yesterday that will allow shoppers to take photographs of products and instantly order them on the internet.

The firm's mobile commerce app also allows visual and audio-tagging. But the full potential of the product will only be realised over the coming months as retailers roll out the technology, its founder says. 

Following months of speculation, firm has signed up 240 retailers and brands who want their products to be Tagged, including French supermarket Carrefour, Adidas and Universal Music.

The technology relies on bar codes by products and in magazine adverts that allow mobile users to instantly link to the relevant store.

The entrepreneur behind the company Dan Wagner last year raised $100 million (£60 million) to launch the product, believed to be the largest amount of seed funding to date.

It charges 25 pence per transaction or 10 basis points whichever is greater. Wagner has compared his firm to 'the next Facebook or Google'.

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