EBay Acquires Mobile Payment Provider Zong

July 15, 2011

EBay recently acquired Zong for $250 million and plans to connect to the mobile payment provider's 3.2 billion users and 250 wireless carriers, according to mobiledia.com, an online news source. Shoppers use Zong pay for items with their mobile phones by entering their mobile phone numbers. Zong then verifies the transaction and charges the customer's cell phone bill.

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Editor’s Insight: The acquisition of Zong moves EBay into the mobile payment sphere, which holds great promise for the vending industry.

There is a good chance that EBay wants to play in the emerging mobile payments industry following Google’s recent announcement of its plans for Google Wallet, a mobile wallet whereby consumers will use their smart phones to make everyday purchases.

The more players in the mobile commerce arena, the sooner it will become a reality. 07-15-11 by Elliot Maras