They started out selling carphones when they were ridiculously expensive. The name made sense at the time - selling something normally pricey at knock-down prices. The (former?) owner is a weirdo though, a real character. I've met him a couple of times and he's a great speaker. He certainly doesn't mince his words.
I guess this the downside with launching your new payment service in a country still stuck in the banking dark age. I'm sure there would have been fewer problems if the rollout had started in Japan or somewhere Europe.