EBay Acquires Zong Mobile Payment Platform

Almost all major Internet companies are trying to acquire technologies that are useful to themselves, and together with the creator. Especially actively buys other companies and startups Google, and recently, and eBay is trying to act in a similar way. So, this year eBay has already announced the purchase of GSI Commerce (for $ 2.4 billion). And the other day it became known that eBay bought the provider of mobile payments, the company Zong, for $ 240 million. The deal has not yet been completed, but soon all necessary procedures will be completed.

Zong provides its customers the opportunity to buy goods using only a mobile phone. To buy something, a person simply enters his phone number and confirms the payment. EBay management believes that the acquired company will help customers use more options to pay for goods and services. So, Zong may well become an alternative to PayPal.

In addition, using Zong services will help eBay increase conversion, as a potential buyer will not need to leave the resource to pay for the goods they like. A video has already been created to demonstrate the system of payment for goods and services using Zong technologies.



The eBay management has already stated that Zong will help everyone who has a mobile phone buy it on eBay (according to statistics, this is about 5 billion people), while the purchase process is safe for the user. Note that Zong was founded in 2008, and at the moment the system has about 3.2 billion users who have already used the service. At the same time, PayPal has 100 million active accounts.

Via Mashable