eBay spent $ 240 million to acquire Zong

According to Reuters, eBay is preparing to acquire mobile payment service provider Zong for $ 240 million.

eBay spent $ 240 million to acquire Zong Picture 1

This is the latest effort to show that eBay's determination to deepen the development of mobile commerce is on the rise.

eBay owns the famous PayPal online payment service, so with the addition of Zong to their " under ", this retail group will have a huge advantage in the competition in the market.

Zong is known for its services that help shoppers pay via mobile or computer, via their mobile accounts. In the meantime, PayPal is also trying to protect its market share from fierce attacks from rivals such as Visa, Google and major US banks.

On July 7, eBay said it hoped the acquisition of Zong would not affect its current financial situation. eBay said that the deal could be "finalized" in the third quarter of this year.

Kareem Winters

Update 25 May 2019

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