Millions Invested to Take Mobile Payment Solution Global (2)

Photo: Postimees/Scanpix
2/8/2011 4:33 PM
Category: Economy

The Estonian Development Fund and co-investor Bellus will invest 1.5 million euros into the mobile payment solution developer NOW! Innovations.

The platform developed by NOW! is a standard solution for paying fees such as parking and highway tolls to paying for drinks at the corner cafe or on public transport. It has been successfully used in four countries: US (Montgomery County, Maryland), Belgium, Macedonia and Ukraine.

Development Fund investments director Heidi Kakko says that unlike in Estonia and a few other European countries such as Belgium, mobile parking market is only now seeing growth. 

"But with the spread of smartphones, demand is quickly growing," said Kakko. "Certainly the significant market share will be divided up in the next five years, and the lion's share will be gained by companies who are able to offer full-service type solutions. 

She estimates the mobile parking market in Europe and the US as being worth a combined 50 million euros.


The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}

Message forwarded to the editor

This Ip-address has limited access

See also

There are no comments yet. Be the first!

Reply to comment

+{{childComment.ReplyToName}}:
Reply to comment
Reply

Laadi juurde ({{take2}})
The name field cannot be empty
No more than 50 characters
Comment field cannot be empty
No more than 1024 characters
{{error}}
Add new comment