EBay buying mobile payments provider Zong

Reuters News
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Posted: Jul 07, 2011 10:03 AM
EBay buying mobile payments provider Zong

NEW YORK (Reuters) - EBay Inc has agreed to buy mobile payments provider Zong for about $240 million in cash, as the e-commerce company makes a bigger push into mobile commerce.

EBay, which already owns online payment service PayPal, said on Thursday it does not expect the Zong deal to have a material impact on its current financial outlook.

Zong uses connections with more than 250 mobile network operators around the world to offering localized payments capabilities for digital goods and services in 21 languages and 45 countries.

(Reporting by Dhanya Skariachan, editing by Gerald E. McCormick)