JPMorgan Chase & Company has announced that it has made an investment into mobile payments technology, with the emerging provider, GoPago, Inc.
GoPago is the developer of a smartphone app that is available to consumers for free, and allows them to find products and services, put them into their shopping cart, and then make their purchase.
The investment has been made by purchasing Series A preferred stock from GoPago, which will provide the company’s intentions to expand with the support it needs so that it can reach into the mobile payment services marketplace by assisting brick and mortar companies to become better capable of competing in the mobile online marketplace.
Consumers can use their smartphones to take advantage of the convenience offered by GoPago, to order and pay for their purchases. Furthermore, they will also be able to experience the accelerated service, personalized offers, exclusive deals, and customer loyalty rewards that are all available through the use of the app.
On the other hand, businesses are able to benefit from GoPago as they can quickly and easily establish mobile storefronts as well as the GoPago analytics and rich data that would likely otherwise be out of reach, but that is essential for being able to make targeted special offers, and to boost sales.
According to the Chase director of mobile, e-commerce and payments, Jack Stephenson, “Chase is committed to giving consumers and businesses a great shopping experience, leveraging the latest advances in mobile payment technologies.” He went on to say that the investment in GoPago will allow his company to develop strong new business and consumer value propositions.
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