Powa Technologies, Europe’s answer to Jack Dorsey’s Square Inc., is considering an initial public offering after its U.S. competitor raised $200 million from investors including Starbucks Corp.

Founder Dan Wagner, who started working on a gadget that lets users receive payments by connecting a credit card to a mobile device about 20 months ago, says a share sale may take place next year. Wagner oversaw the 1994 IPO of his Maid Plc, later renamed and acquired, and has managed payments on websites of Tesco Plc and France Telecom SA through his Venda venture.

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