Business

eBay buys Zong, specialist in mobile payment

The distribution group online eBay announced that reached an agreement to buy Zong on Thursday, July 7, a specialist in mobile payments, with $ 240 million (167 million).

‘The group hopes that, combined with the PayPal platform, which serves 100 million accounts worldwide, Zong will add complementary technology and talent that will help strengthen the leading position in the PayPal mobile payments and digital assets’ eBay said in a statement.

Zong, which works with more than 250 mobile operators in 45 countries and 21 languages, “allows consumers to easily pay with their mobile phone or computer via the billing of the ‘. Just enter their mobile number, after which Zong handles authentication procedures before adding the payment to the account phone.

SECTOR COVETED

‘We are delighted to provide our services to more than 9 million merchants using PayPal in the world, and we are committed to working with operators and retailers to help them make more sales via various devices’, said the director General Zong, David Marcus, said in the statement.

This acquisition shows that the payment industry on mobile platforms is becoming more competitive: the Web giants, banks, but also start-ups trying to win.

After announcing the acquisition of eBay by Zong, the action of the group gained 1.22% to 33.32 dollars (23.22 euros), half an hour after the opening of the New York Stock Exchange.

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