Feeds

eBay boosts mobile payments with Zong acquisition

PayPal in your pocket for US$240 million

Internet Security Threat Report 2014

Mobile payments outfit Zong is to be assimilated into the PayPal world, following the announcement that eBay is handing over US$240 million in cash to acquire the company.

Zong runs the kind of operation that looks like someone anybody could manage: buyers enter their mobile phone numbers when they want to buy something from a site, receive a transaction code, complete the purchase, and pay for the purchase on their phone bill. Proving that it’s not such a tough nut to crack, Zong claims 250 carriers worldwide, but developed its system on a fairly frugal $27.5 million in funding.

The convenience of the arrangement – plus its attraction to carriers, who get to add another billable event to their operations at the cost of carrying the purchases for a while – has proven irresistible to eBay.

The acquisition also bolsters PayPal’s relationship with Facebook. The Social Network™ was already accepting payments through Zong, and last year began abandoned its rumoured “Facebook wallet” development work to sign on with PayPal for payments.

According to Techcrunch, Zong also claims big names including Disney’s Playdom, Big Fish Games, Sony Online Entertainment and Zynga as customers.

PayPal clearly sees mobile payments as something of a Holy Grail. When Google unveiled its mobile platform in May, PayPal responded with a lawsuit, saying that The Chocolate Factory had head-hunted developers from its own project to steal its secrets.®

Choosing a cloud hosting partner with confidence

More from The Register

next story
WHY did Sunday Mirror stoop to slurping selfies for smut sting?
Tabloid splashes, MP resigns - but there's a BIG copyright issue here
Spies, avert eyes! Tim Berners-Lee demands a UK digital bill of rights
Lobbies tetchy MPs 'to end indiscriminate online surveillance'
How the FLAC do I tell MP3s from lossless audio?
Can you hear the difference? Can anyone?
Google hits back at 'Dear Rupert' over search dominance claims
Choc Factory sniffs: 'We're not pirate-lovers - also, you publish The Sun'
While you queued for an iPhone 6, Apple's Cook sold shares worth $35m
Right before the stock took a 3.8% dive amid bent and broken mobe drama
Inequality increasing? BOLLOCKS! You heard me: 'Screw the 1%'
There's morality and then there's economics ...
prev story

Whitepapers

Providing a secure and efficient Helpdesk
A single remote control platform for user support is be key to providing an efficient helpdesk. Retain full control over the way in which screen and keystroke data is transmitted.
Intelligent flash storage arrays
Tegile Intelligent Storage Arrays with IntelliFlash helps IT boost storage utilization and effciency while delivering unmatched storage savings and performance.
Beginner's guide to SSL certificates
De-mystify the technology involved and give you the information you need to make the best decision when considering your online security options.
Security for virtualized datacentres
Legacy security solutions are inefficient due to the architectural differences between physical and virtual environments.
Secure remote control for conventional and virtual desktops
Balancing user privacy and privileged access, in accordance with compliance frameworks and legislation. Evaluating any potential remote control choice.