European mobile banking service Pocopay has launched in Estonia, the Netherlands, and Spain.

The startup, which intends to launch in more countries soon, said that it will offer a range of mobile-based services, but will not take deposits or offer loans.

The company offers customers an account with Iban to manage money and view transactions through an iOS or Android app, and a MasterCard debit card for a fee of EUR2.90 per month.

Pocopay also allows users to transfer funds using email or QR codes, and request and accept funds for bill splits.

The firm operates with a workforce of 50 bankers, techies and designers, headed by ex-Hansabank Group CEO and chairman of Bank Saint-Petersburg Indrek Neivelt.


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