eBay Pays $240 Million in Cash to Add Zong to PayPal

eBay paid $240 million in cash for Zong, a mobile payments company that will contribute to upgrades to their PayPal system. Zong is known for its services billing to users’ mobile phones. There is no news yet as to how Zong and PayPal will be integrated or whether Zong will be rebranded. [TechCrunch]

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