Romanian financial group invests in payment app

BT Investments, part of the Banca Transilvania financial group, has invested in the local start-up Timesafe, which has developed the Pago payment app, says Romania-Insider.com.

“The partnership with Banca Transilvania will allow us to accelerate the development of the Pago application. The investment will be used especially for the product’s technical developments and the addition of new suppliers and new types of payments,” Adrian Cighi, Pago co-founder, said.

The Pago app can be used to manage and pay utility bills, to charge prepaid cards and pay road taxes. It is the only app allowing users to pay bills for over 40 utilities suppliers, according to the app founders.

 

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