Mobile point of sale provider mPowa has signed a deal with Portugal Telecom to provide a white label solution aimed at financial institutions. This is according to the Wall Street Journal.

U.K.-based mPowa provides small businesses a chip-and-PIN mobile POS solution. It has been eyeing other markets and recently signed a deal to over services in South Africa. It has also looked at expansion to Brazil and India.

"The first deal was with a bank, the deal we signed today is with a telco. There are many other companies that we are in advanced talks with,” said mPowa President Dan Wagner in the WSJ story.

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