eBay Buys Zong For $240 Million In Cash To Boost PayPal’s Mobile Payments Technology

techcrunch.com — eBay has acquired mobile payments company Zong for $240 million in cash. The transaction is expected to close in the third quarter of 2011. Zong has been one of the pioneers in the mobile payments space, adding a compelling new way for consumers to pay for items online. Simply put, it lets you pay for things, particularly virtual goods online, via direct billing to your mobile phone. Consumers simply enter their mobile phone numbers in the payments process. Jul 7, 2011 View in Crawl 4