WoraPay, Lithuania-based mobile payment system, is reportedly planning to launch its services in two sales outlets in Kristiine and Rocca al Mare shopping centers in Estonia.
Estonian investor Rando Pärna who has acquired the WoraPay license for Estonia was quoted by balticbusinessnews.com as saying that the company aims to become bigger than Visa and MasterCard.
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WoraPay mobile payment system allows users to make payments using mobile phones by scanning a QR code, which then checks the owner’s bank account, and debits the service price from the account.
In early 2014, WoraPay was launched in Lithuania, and during the first four months the company earned 75,000 in revenue, according to the news portal.
Pärna further told the publication that the launch of the new service in Estonia will cost approximately 100,000, a quarter of which, is the license fee.
Pärna believes that the company will be able to garner 1m in revenue in one year with a network of approximately 140 merchants that support the system.
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