eBay buys Zong mobile payment solution for 168 million euros

by bold-lichterman

eBay give a nice gift to Paypal, its most profitable activity, by buying Zong, the specialist in mobile payment via the operator’s bill. Zong’s technology works with 250 operators in 40 countries, which represents a whopping 3.2 billion terminals!

Zong’s story began in 2000 under the name Echovox, a platform created by David Marcus to vote via his mobile during TV shows. In 2008, he had the idea of ​​transforming his technology into a universal payment method. The company now has around 40 employees.

eBay buys Zong mobile payment solution for 168 million eurosScott Thompson, President of PayPal talks about a perfect complementarity between the two companies and hopes that Zong will help Paypal to consolidate its leadership in virtual goods and mobile payment methods on which his company is strategically betting. According to him, this is to offer traders the most comprehensive possible approach to the development of their online markets “anytime, anywhere, on any device”.