PowaTag and Znap: The ultimate e-commerce apps?

Mobile wallet apps are generating a big hype in the payment industry, especially with retailers and customers. Recently, apps like PowaTag and Znap are not limiting the payment experience to the online versus offline channel. They both offer cross-platform and multi-channel mobile payment apps aiming at simplifying transactions and creating a satisfactory user experience, writes Valentina Romeo

Mobile wallet apps are generating a big hype in the payment industry, especially with retailers and customers. Recently, apps like PowaTag and Znap are not limiting the payment experience to the online versus offline channel. They both offer cross-platform and multi-channel mobile payment apps aiming at simplifying transactions and creating a satisfactory user experience, writes Valentina Romeo

Znap has many in-app features such as geo-location, loyalty integration, coupons and consumer information across various physical, online, and billing channels.

However, PowaTag claims to be able to be used ubiquitously for whatever the customer wants to buy. And this was proved clear by Powa’s CEO Dan Wagner, who told me his company is offering the most complete solution in the market.

Indeed, PowaTag combines elements of mobile payments, QR Codes and audio recognition, which would make it stand out from its potential competitors. However, according to Wagner, PowaTag has no actual competitors. They are simply unique.

When it comes to expanding the offering to international markets, Znap seems to have the best marketing strategy. Znap’s global CMO, David Pipe told me the app is reaching many locations such as Japan (catering), Canada (online shopping), and Australia (utilities and tech). Though any ‘big brand’ has yet to sign with them, Pipe said Znap has received substantial investments and many pilot requests.

On the other hand, Wagner already managed to secure almost $100m from investors. He said more than 240 market-leading retail brands have signed up for the service (most recently Carrefour and Universal Music).

Though PowaTag and Znap embrace different strategies, they are not living on separate planets. They are two very marketable apps reaching the same standard of customers and offering the same advantages. The problem is how effective and consistent their performance will be.