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.
- Italian rail operator to pilot barrier-free transit ticketing
- XYZ to adopt finger vein payments at co-working cafe
- Manchester reports on open loop contactless ticketing adoption
- EMVCo to support eight-digit Issuer Identification Numbers from 2021
- MTA reports ‘much higher’ than expected Omny contactless transit payments adoption in New York