eBay acquires mobile payment company Zong
July 11, 2011 by Terence LEE
Mobile payment company Zong has been acquired by eBay for approximately US$240 million on 7th July. With this acquisition, eBay looks set to add to its extensive e-commerce capabilities, which includes online payments solution PayPal.
Zong’s service enables consumers to purchase items online through their mobile phones or computers and have the transaction reflected on their phone bills. Users would only need to verify the transaction with their phone numbers.
Their service is available through more than 250 mobile careers around the world, serving 45 countries in 21 languages. In 2009, Zong processed payments for over 10 million unique users globally.
In Asia, Zong works with carriers in Singapore, Indonesia, Malaysia, Taiwan, Hong Kong, and more (full list). Mobile commerce appears to have a promising future in the region, since smartphone usage among developed and developing countries in Asia is comparable to the West.
About The Author
Terence LEE - Assistant Editor
Terence is an online media nut that is obsessed with writing and publishing for the Internet. Recently, he took up photography to expand his repertoire, and hopes to learn videography soon. He has worked in both online and print publications such as The Straits Times, Today, Mind Your Body, The Online Citizen, and Funkygrad. In 2010, he co-founded New Nation, a current affairs online magazine for young adults with a couple of like-minded folks. Terence can be found on LinkedIn and Twitter.
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