No, it's a VoIP provider.
Apart from services you'd use to make calls over the internet, they have others such as callthrough access numbers in some countries, much like a calling card account, or a callback service, which triggers an incoming call that then connects to the destination, thus avoiding the SIM's higher outgoing call rates. A call between a French mobile and USA would cost 9 eurocents a minute
http://www.voipcheap.com/en/newsflash.html#news0