Wednesday, March 31, 2004

Contopronto sells its technology to Saudi Arabian Company Zafa

See this press release. But do visit Contopronto's website as well. It turns out that they no longer accept customers and that the usage domain is restricted to Norwegian mobile phones.

What I think has happened here is that Contopronto has wrongly assumed that its Norwegian license as an e-money issuer would allow the use in all EU-countries. Having boasted about this in the media, the bank supervisor may now have informed Contopronto about the proper scope of their license (local at first, international only after notification of other bank supervisors in Europe).