EBay Acquires Zong Mobile Payment Platform

Almost all major Internet companies are trying to acquire useful technologies for themselves, and with the creator. Especially actively buys other companies and startups Google, and recently 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 recently it became known that eBay bought out a mobile payment provider, Zong, for $ 240 million. The deal has not yet been completed, but soon all the necessary procedures will be carried out.

Zong provides its customers with the opportunity to buy goods using only a mobile phone. To purchase 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.
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In addition, the use of Zong services will help eBay to increase conversion, because a potential buyer will not need to leave the resource to pay for the goods they like. To demonstrate the system of payment for goods and services using Zong technologies, a video has already been created.



The eBay management has already announced that Zong will help everyone who has a mobile phone on eBay (according to statistics, it is about 5 billion people) to buy on eBay, while the buying 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