What does ZONG stand for? 

Zong

Zong, the leading mobile payment service used by online gaming and social networking web sites, converts shoppers into buyers at rates up to 10 times greater than traditional payment methods.Zong leverages direct connections with mobile network operators around the world to provide a secure payment solution with unrivaled connectivity and service quality. Zong is the mobile payment provider for Facebook Credits and also works with hundreds of leading destination websites and mobile applications including Gaia Online, IMVU and Playdom.Reaching over 3.2 billion mobile users, Zong provides localized payment capabilities in close to 50 countries in 21 languages. Zong is the only mobile payments platform that combines the high conversion rates of carrier billing with the low costs and flexibility of payment card networks. In 2011, Zong announced the first one-click mobile payment solution for the Android platform so developers could integrate payment options into their applications. The new payment solution creates a seamless experience for users who can now make a purchase within an application with just one click; no registration or log-in is required. The Zong platform automatically verifies the user, bills their mobile phone account and returns them to their application or game without delay.In 2009, Zong processed mobile payments for over 10 million unique users worldwide. In October 2009 Zong released Zong+ which combines the high conversion rates of mobile payments with the low costs of payment card networks. Zong+ received the Frost+Sullivan Best Practices Award for product innovation and was dubbed a “potential Paypal killer” by TechCrunch. In early 2010 Zong was spun off from Switzerland-based Echovox. Echovox shareholders received shares in Zong, a U.S. corporation. Zong is backed by Advent Venture Partners, Newbury Ventures and Matrix Partners.

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