JPMorgan Chase invests in GoPago


JPMorgan Chase has invested in GoPago, a provider of emerging mobile payments technology.

The investment, in the form of GoPago’s Series A preferred stock, will support the company’s expansion into mobile payment services by helping bricks and mortar businesses modernise to better compete with online businesses, the company said in a statement. Financial terms of the deal were not disclosed.

Consumers can use GoPago to order and pay for items or services with their smartphones, which accelerates service, provides exclusive deals, personalises offers, and rewards customers for their loyalty. Businesses benefit by being able to set up mobile storefronts.

“GoPago will allow us to create powerful new value propositions for businesses and consumers. Brick and mortar businesses will be able to provide a more convenient way for their customers to shop, pay and receive targeted offers on smartphones. In addition, our relationship with GoPago will allow us to provide Chase customers exclusive rewards and offers by leveraging our strong local merchant franchise and GoPago’s data and analytics,” said Jack Stephenson, director of mobile, e-commerce and payments at Chase.

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