16/08/11
By Karen Moss
eBay has bought Zong, a startup that allows mobile payments to go directly to mobile carrier billing statements. The online auction site is looking to have Zong compliment its subsidiary, PayPal, as Zong has connections with over 250 mobile network operations worldwide in 45 countries and 21 languages.
The technology that Zong produces allows customers to enter their mobile phone numbers, then after a few seconds get verification so that their payments for digital goods and services can clear and then be billed to the users’ wireless provider accounts.
“PayPal helps to make money work better for customers in this new commerce reality – no matter how they want to pay or what device they’re using,” says PayPal President Scott Thompson. “We believe that Zong will strengthen this value by helping us reach the more than 4 billion people who have mobile phones, giving them more choice and security when they pay.”
Customers often use Zong in order to purchase Facebook Credits and other digital content through their mobile devices. Zong Tweeted about the news of the acquisition saying, “Keep an eye out for the cool new payment experiences we’ll be building!”
eBay acquired Zong for a total of $240 million.
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