DOCSLIB.ORG

Digital Payments Company Descriptions

Total Page：16

File Type：pdf, Size：1020Kb

Download full-text PDF Read full-text

Load more

CREDIT SUISSE AG

Sales and Trading Services
Structured Products (ZUEF 1)
Tel. +41 44 335 76 091 credit-suisse.com/derivatives

Provided by S&P Capital IQ

Digital Payments

Company Descriptions

14 January 2015

  • Company / Country
  • Description

ACI Worldwide, Inc. develops, markets, installs, and supports software products and services for facilitating electronic payments worldwide. The company offers products and services covering various domains, including online banking and cash management that manages payments and cash flows through the online or mobile channel; managing and processing monetary, non monetary, sales, and account origination financial transactions; and managing trade related transaction types.

ACI Worldwide Inc. United States

Blackhawk Network Holdings, Inc. provides various prepaid products and payment services. It distributes digital media and e-commerce, dining, electronics, entertainment, fashion, gasoline, home improvement, and travel closed loop gift cards; and single-use non-reloadable gift cards. The company also distributes prepaid handsets; and a range of prepaid wireless or cellular cards that are used to load airtime onto the prepaid handsets.

Blackhawk Network Holdings Inc.

United States

Discover Financial Services, a bank holding company, provides a range of financial products and services in the United States. The company operates in two segments, Direct Banking and Payment Services. The Payment Services segment operates the Discover Network, a payment card transaction processing network for Discover-branded credit cards, as well as for credit, debit, and prepaid cards issued by third parties. This segment also operates the PULSE network, an electronic funds transfer network, which provides financial institutions issuing debit cards on the PULSE network with access to automated teller machines; and point-of-sale terminals at retail locations for debit card transactions.

Discover Financial Ser- vices

United States

eBay Inc. operates as a technology company that enables commerce and payments on behalf of users, merchants, retailers, and brands of various sizes in the United States and internationally. The company’s Payment segment operates Paypal, which enables individuals and businesses to send and receive payments online and through a range of mobile devices; Bill Me Later that enables U.S. merchants to offer, and U.S. consumers to obtain, credit at the point of sale for ecommerce and mobile transactions; and Zong, which provides payment services through mobile carrier billing.

Ebay Inc United States

Euronet Worldwide, Inc. provides payment and transaction processing and distribution solutions to financial institutions, retailers, service providers, and individual consumers worldwide. The company operates in three segments: EFT Processing, epay, and Money Transfer. The EFT Processing segment provides electronic payment solutions consisting of automated teller machine (ATM) network participation, outsourced ATM and point-of-sale (POS) management solutions, credit and debit card outsourcing.

Euronet Worldwide Inc United States

EVERTEC, Inc. provides various transaction processing services in Latin America and the Caribbean. The company operates in three segments: Merchant Acquiring, Payment Processing, and Business Solutions. The Merchant Acquiring segment provides various merchant acquiring services, which enable point of sales (POS), and e-commerce merchants to accept and process electronic methods of payment, such as debit, credit, prepaid, and electronic benefit transfer (EBT) cards.

EVERTEC Inc United States

  • CREDIT SUISSE AG – Sales and Trading Services, Structured Products
  • 1

Global Payments Inc. provides electronic payments transaction processing services. The company operates in two segments, North America Merchant Services and International Merchant Services. It offers processing solutions for credit cards, debit cards, electronic payments, and check-related services. The company’s services include terminal sales and deployment, authorization processing, settlement and funding processing, customer support and help-desk functions, chargeback resolution, industry compliance, payment card industry security, consolidated billing and statements, and online reporting.

Global Payments Inc United States

Heartland Payment Systems, Inc. provides card payment processing services in the United States. It offers end-to-end electronic payment processing services to merchants by facilitating the exchange of information and funds between them and cardholders financial institutions; and undertakes merchant set-up and training, transaction authorization and electronic draft capture, clearing and settlement, merchant accounting, merchant assistance and support, and risk management services.

Heartland Payment Systems Inc.

United States

Net 1 UEPS Technologies, Inc. provides payment solutions and transaction processing services for various industries in South Africa, Korea, Europe, and internationally. It offers universal electronic payment system (UEPS), a smart-card based alternative payment system for the unbanked and underbanked populations of developing economies and for mobile transaction channels.

Net 1 Ueps Technolo- gies Inc.

South Africa

Optimal Payments plc provides online payment solutions to Internet merchants and consumers worldwide. It operates through two segments, NETELLER and NetBanx. The company provides services to businesses and individuals to allow the processing of direct debit, electronic cheque, and credit card payments.

Optimal Payments Plc United Kingdom

QIWI plc, together with its subsidiaries, operates electronic online payment systems primarily in the Russian Federation, Kazakhstan, Moldova, Belarus, Romania, the United States, and the United Arab Emirates. It provides payment services through operating approximately 127,000 kiosks and 42,000 terminals in its payment processing platform.

Qiwi Plc Russia

The Western Union Company provides money movement and payment services worldwide. The company operates in three segments: Consumer-to-Consumer, Consumer-to-Business, and Business Solutions. The Consumer-to-Consumer segment offers cash money transfer services involving walk-in agent locations. This segment provides various options for sending and receiving funds, including walk-in and telephone money transfer, online money transfer, account based money transfer, direct to bank, and mobile money.

The Western Union Company

United States

Vantiv, Inc. provides electronic integrated payment processing services in the United States. It operates in two segments, Merchant Services and Financial Institution Services. The Merchant Services segment offers integrated acquiring and processing transactions, value-added services, and merchant services for banks and credit unions.

Vantiv Inc United States

VeriFone Systems, Inc. designs, markets, and services electronic payment solutions at the point of sale (POS) worldwide. It provides countertop electronic payment systems that accept card payment options, such as NFC, mobile wallets, chip and PIN, and contactless payments, as well as support credit and debit card, EBT, EMV, and other PIN-based transactions; an array of software applications and application libraries; and portable solutions that support 3G, GPRS, Bluetooth, and WiFi.

VeriFone Systems Inc. United States

Visa Inc., a payments technology company, operates as a retail electronic payments network worldwide. The company facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities. It owns and operates VisaNet that is involved in the authorization, clearing, and settlement of payment transactions; and provision of fraud protection for account holders and assured payment for merchants. The company also offers a range of issuer processing services for participating issuers of Visa debit, prepaid, and ATM payment products. In addition, it provides electronic payment, risk management, and payment security solutions to online merchants; digital goods transactions services in online games, digital media, and social networks; and mobile financial services for mobile network operators and financial institutions in developing economies.

Visa Inc United States

  • CREDIT SUISSE AG – Sales and Trading Services, Structured Products
  • 2

Wirecard AG provides outsourcing and white label solutions for electronic payment transactions. The company operates through three business segments: Payment Processing and Risk Management, Acquiring and Issuing, and Call Center and Communication Services. The Payment Processing and Risk Management segment provides products and service for the acceptance or implementation, and the downstream processing of electronic payments and the associated processes.

Wirecard AG Germany

1 We would like to draw your attention to the fact that telephone calls to our lines are recorded. When we receive your call, we assume that you accept this business practice.

The information provided herein was produced by Credit Suisse AG and/or its affiliates (hereafter "CS") with the greatest of care and to the best of its knowledge and belief. The information and views expressed herein have been provided to CS by S&P Capital IQ. CS provides no guarantee with regard to the content and completeness of the information and does not accept any liability for losses that might arise from making use of the information. If nothing is indicated to the contrary, all figures are unaudited. The information provided herein is for the exclusive use of the recipient. The information provided herein constitutes marketing material. It is not investment advice or otherwise based on a consideration of the personal circumstances of the addressee nor is it the result of objective or independent research. The information provided herein is not legally binding and it does not constitute an offer or invitation to enter into any type of financial transaction. It may not be reproduced either in part or in full without the written permission of CS. Copyright © 2015 Credit Suisse Group AG and/or its affiliates. All rights reserved.

  • CREDIT SUISSE AG – Sales and Trading Services, Structured Products
  • 3

Recommended publications
  • Participant List

    Participant List

    Participant List 10/20/2019 8:45:44 AM Category First Name Last Name Position Organization Nationality CSO Jillian Abballe UN Advocacy Officer and Anglican Communion United States Head of Office Ramil Abbasov Chariman of the Managing Spektr Socio-Economic Azerbaijan Board Researches and Development Public Union Babak Abbaszadeh President and Chief Toronto Centre for Global Canada Executive Officer Leadership in Financial Supervision Amr Abdallah Director, Gulf Programs Educaiton for Employment - United States EFE HAGAR ABDELRAHM African affairs & SDGs Unit Maat for Peace, Development Egypt AN Manager and Human Rights Abukar Abdi CEO Juba Foundation Kenya Nabil Abdo MENA Senior Policy Oxfam International Lebanon Advisor Mala Abdulaziz Executive director Swift Relief Foundation Nigeria Maryati Abdullah Director/National Publish What You Pay Indonesia Coordinator Indonesia Yussuf Abdullahi Regional Team Lead Pact Kenya Abdulahi Abdulraheem Executive Director Initiative for Sound Education Nigeria Relationship & Health Muttaqa Abdulra'uf Research Fellow International Trade Union Nigeria Confederation (ITUC) Kehinde Abdulsalam Interfaith Minister Strength in Diversity Nigeria Development Centre, Nigeria Kassim Abdulsalam Zonal Coordinator/Field Strength in Diversity Nigeria Executive Development Centre, Nigeria and Farmers Advocacy and Support Initiative in Nig Shahlo Abdunabizoda Director Jahon Tajikistan Shontaye Abegaz Executive Director International Insitute for Human United States Security Subhashini Abeysinghe Research Director Verite
  • E-Commerce Revolution in Asia and the Pacific

    E-Commerce Revolution in Asia and the Pacific

    Embracing the E-commerce Revolution in Asia and the Pacific Asia is the world’s largest e-commerce marketplace and continues to grow rapidly. Some countries lead. Others need to catch up. An efficient e-commerce marketplace requires information and communication technology infrastructure—including internet access, speed, and affordability—along with logistics, an effective legal and institutional framework, and social acceptance and awareness. This report reviews the opportunities and challenges in developing business-to-consumer e-commerce in the region. It also examines how Fourth Industrial Revolution technologies—blockchains, the internet of things, machine learning, artificial intelligence, and 5G wireless networks, among others—will transform the industry and unlock its dynamic potential. It also offers policy recommendations to help lower barriers to e-commerce development. About the Asian Development Bank ADB’s vision is an Asia and Pacific region free of poverty. Its mission is to help its developing member countries reduce poverty and improve the quality of life of their people. Despite the region’s many successes, it remains home to a large share of the world’s poor. ADB is committed to reducing poverty through inclusive economic growth, environmentally sustainable growth, and regional integration. Based in Manila, ADB is owned by 67 members, including 48 from the region. Its main instruments for helping its developing member countries are policy dialogue, loans, equity investments, guarantees, grants, and technical assistance.
  • An Exit Strategy

    An Exit Strategy

    An Exit Strategy M.B.A. Capstone Project AUGUST 5, 2016 CSU SAN MARCOS Prepared by: Michelle Svoboda P a g e | 2 Table of Contents Executive Summary ................................................................................................................................... 4 The Project & Objectives........................................................................................................................... 5 Methods .................................................................................................................................................... 6 About ItsPayd ............................................................................................................................................ 7 About TewYu ............................................................................................................................................. 9 ItsPayd’s Value Proposition ...................................................................................................................... 9 What customers are the target market? ............................................................................................ 10 What are they (businesses) dissatisfied with? What is the current alternative to your service? ..... 11 What is the product? Why is it innovative? ........................................................................................ 11 It provides a solution to what problem? What are the specific (measurable) benefits? ................... 12 Situational Analysis ................................................................................................................................
  • Making PARTNERSHIPS Work Whycooperation Coopetition Trumps Competition Our Mission, Vision + Values

    Making PARTNERSHIPS Work Whycooperation Coopetition Trumps Competition Our Mission, Vision + Values

    Making PARTNERSHIPS Work WhyCooperation coopetition trumps competition Our Mission, Vision + Values We are committed to democratizing money and access to financial services by being the world’s most open and independent digital payments platform Innovating to Becoming a Partnering across the ecosystem to create engaging and payments partner of choice make PayPal available anywhere rewarding customer experiences for businesses people want to shop, pay, manage and move their money Build Partner Strategic Investments & Acquisitions How we became PayPal 1 MILLION user mark PayPal goes public. Max Levchin and Peter Thiel form Confinity merges X.com changes eBay Inc. Confinity. PayPal officially with Elon Musk’s name to PayPal. acquires PayPal. launches. X.com. 1998 1999 2000 2001 2002 Acquisitions over the years… PayPal acquires Xoom, CyActive, Modest and Paydiant. Separation from eBay Inc. Bill Me Later PYPL listed on eBay Inc. acquires Rebranded Zong Braintree NASDAQ. Bill Me Later. PayPal Credit. and Venmo. 2008 2011 2013 2014 2015 Acquisitions over the years… iZettle Acquires 70% equity stake in GoPay. Jetlore, AI Powered prediction Platform. First foreign payment platform in China Hyperwallet to strengthen payout capabilities. Announces intention to acquire shopping rewards platform Honey Swift Financial Simility, Fraud Prevention platform 2017 2018 2019 2020 ©2018 PayPal Inc. Confidential and proprietary. Our Network GLOBAL MERCHANTS CONSUMER DATA SECURITY Simility Jetlore Hyperwallet Honey TECHNOLOGY & PAYMENTS PLATFORM Partnership Strategy 2016 2017 2018 JULY OCTOBER JANUARY MAY AUGUST OCTOBER APRIL GLOBAL US EXTENSION CANADA FEBRUARY SEPTEMBER DECEMBER APRIL JULY MARCH ASIA PACIFIC EXTENSION Europe Extension CONSUMERS MERCHANTS Unrivaled Two-Sided Platform Banks & Technology Networks PARTNERS Platforms Pre-Choice Post-Choice Balance was always swept first, followed by a PayPal determined lower cost funding instrument.
  • Case Study of Easypaisa and Tameer in Pakistan

    Case Study of Easypaisa and Tameer in Pakistan

    INTERNATIONAL FINANCE CORPORATION Mobile Financial Services for Microfinance Institutions: Case Study of Easypaisa and Tameer in Pakistan Aiaze Mithe Table of Contents Acronyms and abbreviations ..........................................................................................................................v Acknowledgements ........................................................................................................................................ vii CHAPTER 1: Introduction ................................................................................................................................1 Background ........................................................................................................................................................................................................................... 1 Document Purpose.......................................................................................................................................................................................................... 1 CHAPTER 2: Pakistani Market Environment ...............................................................................................3 Regulations ........................................................................................................................................................................................................................... 3 Financial infrastructure .................................................................................................................................................................................................
  • Mobile Payments Three Winning Strategies for Banks

    Mobile Payments Three Winning Strategies for Banks

    White paper Mobile payments Three winning strategies for banks Executive summary technology is evolving with a need for partnerships, and where banks may Mobile payments are a hot topic in the feel they lack the expertise. financial industry and a top priority for This competitive and fast evolving banks, because: landscape creates doubt. Many banks — The ever growing ubiquity of the wonder what to do: just stand by and Seize the opportunity mobile phone: on a world population watch or respond more pro-actively? of 7 billion, there are 5 billion mobile What is our bank’s mobile payments phones, but only 2 billion people have strategy? a bank account; Our recommendation to banks regarding — Consumers are using their mobile mobile payments is two-fold: phones to make payments in over 130 1. Play to your strengths. Double- deployments with a 100 more planned guessing under these circumstances and several new initiatives announced can be costly. The path to success each week; Highlights is to use clear criteria: respond to Mobile payments are a top — It is a growing market predicted to an obvious customer demand, use priority increase to 900 million users and USD technologies that satisfy that need, and There is competition from non- 1 trillion in transaction value by 2015. decide based on a clear business case. banks Many banks have launched a mobile 2. Use mobile payments to bring your Banks can use mobile payments payments service or wallet, but this customers closer to your bank, in a to get closer to customers opportunity also brings specific new “experience banking model” (cf.
  • Payments 20.Pub

    Payments 20.Pub

    ® PAYMENTS 2.0: DRAFTING OFF THE CONSUMER ECOMMERCE AND SOCIAL INTERNET WAVE Fall 2011 | Ryan Sweeney and John Locke | [email protected] | [email protected] Much has been published about, and many dollars have been services serving consumers “where they are,” rather than invested behind, the current eCommerce and Social Media traditional environments of a store with cash or credit card in revolutions. At Accel, we’ve been fortunate to have a front-row hand. seat to these trends as investors in a number of leading companies – such as Facebook, Groupon, Dropbox, and mobile apps like As for organization of this paper, we’ll look at solutions for Angry Birds (dba Rovio) and AdMob – that are reshaping the merchants first (both online and offline) and consumers second consumer web experience. (particularly the impact of limited payment product access, micropayments, and mobile). In many ways these companies are fundamentally redesigning basic commerce, as consumers are increasingly making buying FOR MERCHANTS, IT’S ALL ABOUT decisions and executing transactions through online, social, and MAKING THE DIFFICULT EASY mobile channels. Our recent work at Accel suggests that over 50% of buying decisions are now initially researched via social The Trend. Merchants are increasingly faced with a multitude networks or mobile applications. of challenges for accepting and managing payments, as consumers want to pay with a variety of new instruments like This shift in consumer behavior has profound implications for a mobile phones or new forms of credit like BillMeLater (more number of supporting technology sectors beyond just e/mobile- on these products later).
  • E-Commerce, Cyber, and Electronic Payment System Risks: Lessons from Paypal

    E-Commerce, Cyber, and Electronic Payment System Risks: Lessons from Paypal

    LESSONS FROM PAYPAL (DO NOT DELETE) 9/22/2016 4:08 PM E-COMMERCE, CYBER, AND ELECTRONIC PAYMENT SYSTEM RISKS: LESSONS FROM PAYPAL LAWRENCE J. TRAUTMAN ABSTRACT By now, almost without exception, every business has an internet presence, and is likely engaged in e-commerce. What are the major risks perceived by those engaged in e-commerce and electronic payment systems? What potential risks, if they become reality, may cause substantial increases in operating costs or threaten the very survival of the enterprise? This article utilizes the relevant annual report disclosures from eBay (parent of PayPal), along with other eBay and PayPal documents, as a potentially powerful teaching device. Most of the descriptive language to follow is excerpted directly from eBay’s regulatory filings. My additions include weaving these materials into a logical presentation and providing supplemental sources for those who desire a deeper look (usually in my footnotes) at any particular aspect. I’ve sought to present a roadmap with these materials that shows eBay’s struggle to optimize its business performance while navigating through a complicated maze of regulatory compliance concerns and issues involving governmental jurisdictions throughout the world. First, a brief look is provided at the SEC’s disclosure requirements. Second, a description of the eBay and PayPal history and business models is presented. Next, is a discussion of risk factors: credit cards; U.S. state money transmission laws; online and mobile growth; and reliance on internet access. International issues follow, with an examination of anti-money laundering, counter-terrorist, and other potential illegal activity laws. The author estimates that PayPal’s cost of accounting and legal fees and management time devoted to the discovery, examination and documentation of the perceived enterprise risk associated with e-commerce, cyber, information technology and electronic payment system risks may aggregate in the range of tens-of-millions of dollars a year.
  • How Mobile Payment Is Changing the World

    How Mobile Payment Is Changing the World

    Western Oregon University Digital Commons@WOU Student Theses, Papers and Projects (Computer Department of Computer Science Science) 3-21-2017 How Mobile Payment Is Changing The orW ld Jin Huang [email protected] Follow this and additional works at: https://digitalcommons.wou.edu/ computerscience_studentpubs Part of the Other Computer Engineering Commons Recommended Citation Huang, Jin, "How Mobile Payment Is Changing The orldW " (2017). Student Theses, Papers and Projects (Computer Science). 5. https://digitalcommons.wou.edu/computerscience_studentpubs/5 This Paper is brought to you for free and open access by the Department of Computer Science at Digital Commons@WOU. It has been accepted for inclusion in Student Theses, Papers and Projects (Computer Science) by an authorized administrator of Digital Commons@WOU. For more information, please contact [email protected]. Index 1 Introduction ...................................................................................................................................................... 1 2 Background ...................................................................................................................................................... 2 2.1 Mobile Payment .................................................................................................................................... 2 2.1.1 NFC Payment ............................................................................................................................. 4 2.1.2 QR-Code Payment ....................................................................................................................
  • What the Future Holds for Regulating Mobile Payments

    What the Future Holds for Regulating Mobile Payments

    What the Future Holds for Regulating Mobile Payments Marianne Crowe, VP, Payment Strategies, Federal Reserve Bank of Boston John Muller, Vice President, Global Payments Policy at eBay Inc Jackie McCarthy, Director, Wireless Internet Development, CTIA Lauren Saunders, Associate Director, National Consumer Law Center Moderator: Bill Sullivan, Senior Director & Group Manager, Government & Industry Relations, NACHA - The Electronic Payments Association © 2014 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only. What the Future Holds for Regulating Mobile Payments Overview of Mobile Payment Landscape Marianne Crowe Federal Reserve Bank of Boston July 17, 2014 © 2014 NACHA — The Electronic Payments Association. All rights reserved. No part of this material may be used without the prior written permission of NACHA. Content from sources other than NACHA is used with permission and requires the separate consent of those sources for use by others. This material is not intended to provide any warranties or legal advice, and is intended for educational purposes only. The views expressed in this presentation are those of the presenters and do not necessarily reflect the views of the Federal Reserve Bank of Boston or Federal Reserve System. 3 Agenda • Overview of Mobile Payments Landscape • Challenges • Mobile Payments Industry Workgroup • Key Takeaways 3 4 Mobile Definitions • Mobile Payment: Mobile device used to make proximity (point of sale/POS) or remote purchases, transit, digital content, P2P money transfer, online goods and services.
  • FINANCIAL TECHNOLOGY PARTNERS LP FTP SECURITIES LLC Is Pleased to Announce Its Exclusive Role As Strategic and Financial Advisor To

    FINANCIAL TECHNOLOGY PARTNERS LP FTP SECURITIES LLC Is Pleased to Announce Its Exclusive Role As Strategic and Financial Advisor To

    November 15, 2012 FINANCIAL TECHNOLOGY PARTNERS LP FTP SECURITIES LLC is pleased to announce its exclusive role as strategic and financial advisor to in its sale to Steve McLaughlin Financial Technology Partners LP The Only Investment Bank Managing Partner 601 California St., 22nd Floor Focused Exclusively on Financial Technology Tel: 415.512.8704 San Francisco, CA 94108 [email protected] www.ftpartners.com @FTPartners Highly Confidential and proprietary information. Unauthorized distribution without prior consent from Financial Technology Partners LP or FTP Securities LLC (together “FT Partners”) is strictly prohibited. This communication should not be regarded as an offer to sell or as a solicitation of an offer to buy any financial product or service, nor is it an official confirmation of any transaction, or representative of an official position or statement of Financial Technology Partners LP, FTP Securities LLC or any other related entity. FTP Securities LLC is a FINRA registered broker-dealer. ProPay’s Sale to TSYS (NASDAQ: TSS) FT Partners Advises Mobile Payments Leader ProPay on its Strategic Sale to TSYS Transaction Overview and Rationale Overview of Transaction ■ On November 15, 2012, ProPay announced its proposed sale Financial Technology Partners LP to TSYS FTP Securities LLC ■ ProPay is a leading provider of technology-enabled payment processing solutions for organizations ranging from small, is pleased to announce its exclusive role as home based entrepreneurs to multi-billion dollar enterprises sole strategic
  • Ebay Inc. to Acquire Zong

    Ebay Inc. to Acquire Zong

    July 7, 2011 eBay Inc. to Acquire Zong Zong strengthens PayPal's leadership position in mobile payments and digital goods SAN JOSE, Calif. & MENLO PARK, Calif.--(BUSINESS WIRE)-- eBay Inc. (NASDAQ: EBAY) announced today that it has agreed to acquire Zong, a leading provider of payments through mobile carrier billing, for total consideration of approximately $240 million in cash. Zong leverages connections with more than 250 mobile network operators around the world, offering localized, secure and easy-to-use payments capabilities for digital goods and services in 21 languages and 45 countries. Combined with PayPal's leading global payment platform serving 100 million active accounts worldwide, the company expects that Zong will add complementary technology and talent that help strengthen PayPal's leadership position in mobile payments and digital goods. Zong allows consumers to easily pay for purchases from their mobile phones or computers through direct carrier billing. Consumers simply enter their mobile phone numbers. Then, in a matter of seconds, Zong verifies that number and clears the payment on the customer's existing wireless service account. With Zong, PayPal will have greater ability to offer consumers even more choices in how they want to pay — virtually anytime, anywhere. Both Zong and PayPal help to enable digital goods merchants to increase conversion, because they offer a faster, easier way for consumers to pay without leaving the merchant's site. "Commerce is changing. With mobile phones, we walk around with a mall in our pockets. PayPal helps to make money work better for customers in this new commerce reality — no matter how they want to pay or what device they're using," said Scott Thompson, president of PayPal.