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Articles tagged with: money transfer

eBay Inc. Acquires Zong

eBay said this morning that it is acquiring Zong, a venture-backed mobile payments provider, for about $240 million in cash.

Zong works with more than 250 mobile network operators worldwide, offering localised payment services on a user’s mobile phone or PC through their carrier billing. Consumers have to enter their mobile phone numbers and then, in a matter of seconds, Zong verifies that number and clears the payment on the customer’s existing wireless service account.

PayPal Hits 100 Million Active Users

Paypal has just reached over 100 million active users. PayPal has been grabbing about 1 million active users each month, although the term ‘active’ was not defined by them, I would guess the term to mean any activity within the past 30 days, though PayPal could have meant past 6 months, or one year.

PayPal joined eBay on October 3rd of 2002 and now accounts for 30% of eBay’s total revenue. In the first quarter of 2011, PayPal earned $1 billion in revenue for eBay (these are profits taken from every PayPal transaction that occurs on eBay).