£35.5 billion of SME bad debt just one of many areas seen to benefit from service London - A new payment system is launching in the UK that will enable companies of all sizes to accept credit and debit card payments through their mobile phone. mPowa is a service that includes a mobile phone app and a reader which connects to a smartphone or mobile device either by plugging into its headphone socket or via Bluetooth. It enables customers to make payments on the go using their card in a way never before seen in Britain. The mobile app is free to download on iPhone, iPad, Android, Windows and Blackberry devices and functions as the control centre that accepts the payment. It monitors payments made by card as well as cash and cheque, as well as processing each transaction securely. The reader, when connected to a mobile phone, is used to swipe the magnetic strip of the card, or for the chip and pin device, the card is inserted and the customer is prompted to enter their PIN code. m...