eBay announced today it has agreed to acquire mobile payments provider Zong for $240 million in cash to bolster its PayPal platform and reach.
Zong provides a mobile payments platform that facilitates carrier-direct billing for digital goods and services. Users pay for their purchases by entering their mobile phone number and payment is billed to the customer's wireless service account.
The Menlo Park, Calif.-based company helped develop Facebook Credits and has partnered with many of the social gaming and virtual worlds' biggest companies, including Zynga, IMVU, Walt Disney's Playdom, and IAC's Zwinky.
The company claims a … Read more