mPay waits for money from its shareholder

MAG
09-12-2008, 07:01

Warsaw (Puls Biznesu) – ATM should increase capital of mPay as early as this year. The company has signed contract with the city of Warsaw to provide monthly bus fares.

mPay, the operator of mobile payments, has been adversely affected by the crisis. The company has failed to be listed on the NewConnect and has failed to find an investor. That’s why it will need to ask its investor for money.

“ATM will support our projects for the next year”, Konrad Luczak, mPay CEO said.

mPay hopes that the owner of 60 percent of its shares will increase its capital to PLN 12-15m, up from PLN 6.9m today. This may happen as early as this year.

ATM, jointly with Polkomtel telecom and Citibank, is implementing temporary fares in Warsaw. Krzysztof Kilian, Polkomtel deputy CEO, believes that the potential number of clients may amount to 700,000 people. This is the number of Polkomtel’s subscribers in Warsaw.

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Podpis: MAG

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