Powa Technologies scores £20.7m, Sub Saharan opportunity for payments, MasterCard Results, Chipotle Speeds Up Mobile Payments, Payment News

Payment News for today from our News Aggregation wing:

1. finextra - Powa Technologies scores £20.7m investment

Cutting edge mobile payment specialist Powa Technologies has announced that it has secured a further $20.7m investment to add to the $76m raised at the end of last year, proving the potential of its new PowaTag technology and underlining its status as the UK's first true 'internet sensation'.

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2. Mckinsey - Sub-Saharan Africa: A major potential revenue opportunity for digital payments

Mobile financial services—often called mobile money—are a high priority for many mobile operators, financial institutions, technology firms, and governments. In regions where financial inclusion is limited, such as sub-Saharan Africa, mobile money promises a lower-cost, more scalable alternative to traditional banking. Yet despite high interest levels in the markets of sub-Saharan Africa, there have been few success stories to date.

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3. phx.corporate - MasterCard Incorporated Reports Fourth-Quarter and Full-Year 2013 Financial Results

MasterCard Incorporated (NYSE: MA) today announced financial results for the fourth quarter of 2013. Excluding a special item, the company reported net income of $684 million, up 13%, and earnings per diluted share of $0.57 (adjusted for the company’s ten-for-one stock split), up 16%, versus the year-ago period. Including the special item, a $61 million after-tax charge related to the opt-outs in the U.S. merchant litigations, the company reported net income of $623 million, or $0.52 per diluted share. The net income and earnings per diluted share, excluding the special item, are reconciled to their comparable GAAP measures in the accompanying tables.

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4. Businessweek - Chipotle Wants to Speed Up With Mobile Payments

Trying to add even more speed to its fast-food burrito, Chipotle is planning to invest $10 million to redesign its technology network and add mobile payments to its ordering app, among other improvements. We are experimenting with mobile payments, and we have kind of a rough version right now that our employees are able to use, said Chipotle Chief Financial Officer John Hartung during an earnings call last week. The company is spending a few hundred dollars per restaurant to add equipment for this feature, which is similar to the readers used at Starbucks cafes. Chipotle declined to share details about its timing for making mobile payments available to customers.

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