MPowa has been looking everywhere for new markets for its mobile POS solution. The company recently indicated that it was eyeing both the Indian and U.S. markets, and now it's looking at South America too.

According to a post by RCR Wireless, the European counterpart to mPOS provider Square said it sees Brazil as a potential key market. It plans to start business there through partners in the country, mPowa said.

"The World Bank reported last year that 98 percent of the Latin American population has a mobile cell signal and that 84 percent of Latin American households subscribe to some type of mobile service. This is all that is required for mPowa's technology to operate," the blog post quotes Dan Wagner, CEO and chairman of mPowa, as having said.

With expansion into new markets, mPowa is trying to get a jump on other companies like Square and GoPayment, two U.S. mobile POS providers that have both begun moving into international markets.

The difference with mPowa is that its system is already compatible with chip-and-PIN technology, which is used throughout the world for electronic transactions but is not prevalent yet in the U.S.

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