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eBay to Acquire Mobile Payments Company

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Jul 7, 2011, 10:02 AM by Eric M. Zeman

eBay today announced its intent to purchase Zong, a provider of direct carrier billing payment services for a total of $240 million. Zong has relationships with more than 250 wireless network operators around the world. It lets customers pay for goods by charging them to their wireless account. eBay believes that the acquisition will provide its customers with a more well-rounded set of options for making digital goods purchases from their mobile phones. The acquisition, which still requires regulatory approval, is expected to close during the third quarter of the year.

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