Amazon Buys Mobile Payments Startup

Amazon (NASDAQ: AMZN) will soon be competing with Square, Google (NASDAQ: GOOG) and ISIS on mobile payments with its acquisition of Italian mobile payments startup GoPago.

Amazon has yet to confirm the acquisition, but GoPago CEO Vincenzo Di Nicola confirmed the deal to Italian tech publication Siliconvalley.Correiere.it "I cannot say more, except for the fact that the technology will put GoPago at the base of a new, ambitious project," GoPago told the publication, TechnoBuffalo reported.

GoPago lets customers order ahead, pay on their smartphones, and then visit stores to pick up purchases without having to deal with lines. The service can also be utilized at restaurants, allowing for food to be delivered at users' tables. GoPago is similar to Square's app, which turns a smartphone into a mobile wallet or cash register.

TechCrunch speculates that GoPago's technology will be utilized in its recently-launched "Log In and Pay with Amazon" service, a digital wallet that places Amazon in competition with PayPal and credit card companies. Login and Pay with Amazon offers online sellers a one-click checkout option, which lets users pay instantly through their Amazon accounts.

For more, see:
This TechnoBuffalo article
This Business Insider article
This TechCrunch article

Related Articles:
Google Wallet Stepping up Mobile Loyalty
Consumers Wary of Mobile Wallets, Payments
Mobile Wallets' Future Could Be Coupons, Says Survey
Is Facebook Testing Its Own Mobile Payments?
Amazon, Office Depot Lead Black Friday Mobile Performance

Suggested Articles

Costco changes up its menu items, and Alibaba and Guess partner for a physical store.

Janey Whiteside, Walmart's new chief customer officer, is well acquainted with the importance of customer service in modern retail.

Whole Foods will offer deals on Amazon's Prime Day, and tariffs against China are causing pricing hikes.