PowaTag is a multi-function smartphone platform that enables retail opportunities at almost any point of interaction between consumers and products.
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In the past we’ve seen a few platforms that aim to make it easier to identify and buy products, whether it’s instantly shopping items in print magazines with Selectionnist and Prague’s Mall.cz, which leverages QR codes to turn its billboards into supermarkets. PowaTag is a new platform that combines many of these technologies into one system, enabling retail opportunities at almost any point of interaction between consumers and products.
Shoppers first download the PowaTag app from the App Storeand Google Play and connect their delivery and payment details to their account. They will be able to use the app whenever they see the PowaTag logo, instantly making an online purchase regardless of whether they’re at home or in store. For example, users could scan QR codes located in shop windows, print ads and billboards, or use the app’s Shazam-style audio recognition to immediately buy items they see on the TV. PowaTag can also identify popular items such as books by taking a photo. As soon as an item is scanned, the app loads options like size and color before gets users to confirm their payment in one touch. Bluetooth Beacon connectivity also pushes greetings, information and discounts to consumers when they walk in store.
This all-encompassing setup has enabled PowaTag to raise a record-breaking USD 100 million in a single seed funding round, attracting over 240 heavyweight brands, including Reebok, Adidas, Universal Music and Carrefour. The startup charges retailers USD 0.40 or 10 basis points per successful transaction, as well as USD 99 for 3 beacons, while the app is free for consumers. Are there other connected industry innovations that could be rolled into a single app?