PowaTag: E-ZPass of Shopping or Amazon Killer?

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March 4 (Bloomberg) –- Powa Technologies Group Founder and CEO Dan Wagner discusses the launch of his company’s mobile commerce app. He speaks with Trish Regan and Matt Miller on Bloomberg Television’s “Street Smart.” (Source: Bloomberg)

This turns the idea -- what do you call it when you go to best buy and look at something and then buy it on amazon?

Showrooming.

Consumers can now buy it wherever they see it with your technology.

This is an extension to both e-commerce which is an online activity and then in store which is a physical shopping experience.

This is a new channel.

It is everywhere commerce.

Wherever you are, wherever you see an ad in the magazine, you can buy that product.

If i like those trousers, i could buy those trousers.

So if you're watching tv and you say i like those trousers.

That is so it was on the bottom of the screen, you can then -- we dues and number of methods to transmit that data to the phone.

We use barcodes, watermarks, and audio.

In this broadcast it could be embedded in the audio broadcast.

I will hold my phone up.

I think the point is what we are doing is melding the experiences of shopping into a physical environment that previously did not cater for transactions.

We will need stores anymore.

In theory you don't. if you want to buy a book, i say, is that a good book?

I go on amazon and buy the book.

But tomorrow, i can does buy it straight away.

You get a wallet type system.

Collects there is the invitation that if we are successful at this, we become the de facto mobile wallet.

They have been nipping at trying to result -- how would they not going to try to take you out?

You look at amazon.

You have been referred to as some media as an amazon killer.

How is just -- jeff bezos -- he is a retailer.

We are offering the solution to all retailers.

We launched today -- he is not.

We have over 240 brands and retailers around the world -- nestle, reebok, nespresso.

All of these guys committed to use the technology.

They put it on their products, their audio -- embedded in their audio.

You can hold up your phone and buy it.

All of these technologies are new and available today.

This is not something that we are -- you get $100 million net to

This text has been automatically generated. It may not be 100% accurate.

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