JPMorgan Chase (JPM) Makes Investment in Emerging Mobile Payment Company

JPMorgan Chase & Co. (NYSE: JPM) announced today that it has invested in GoPago, Inc., a provider of emerging mobile payments technology. GoPago has developed a free smartphone application that allows consumers to browse, order, and pay for local goods and services. The investment, in the form of GoPago’s Series A preferred stock, will support the company’s expansion into mobile payment services by helping brick and mortar businesses modernize to better compete with online businesses.

Consumers can use GoPago to enjoy the convenience of ordering and paying for items or services with their smartphones, which accelerates service, provides exclusive deals, personalizes offers, and rewards customers for their loyalty. Businesses benefit by being able to easily set up mobile storefronts and the rich data and analytics GoPago provides helps them better target special offers to drive sales.

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