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 fundin– via redwolf.newsvine.com
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