In a rather quiet move, Amazon has acquired mobile POS payment solution GoPago.
No official announcement from Amazon or GoPago has been released, but according to report from an Italian newspaper, GoPago CEO Vincenzo di Nicola stated that the purchase has been completed. di Nicola added that Amazons plans with the company are for “a new ambitious project”.
Founded in 2009, GoPago devised an application allowing users to shop and checkout online, skipping the in-store line when they come to pick up their merchandise. Afterwards, it expanded their functionality by offering POS solutions, similar to Square and Leaf.
Staying Ahead: How Brokers Are Approaching 2020Go to article >>
Amazon is not the first company that is interested in GoPago, and just this last February, JPMorgan-Chase invested an undisclosed amount rumored at around $25 million. Attempts to sell GoPago’s POS solution through Chase Paymentech fell through, and the company ran out of funding.
Amazon’s interest in the payment industry has grown over the last year, and with the addition of the “Login and Pay with Amazon” payment feature, it would seem they are trying to cover all bases. After drones and online groceries, Amazon is targeting mobile points of sale as well. If they are intending to enter the mobile POS arena, Amazon will have stiff competition from the likes of Google Wallet, Isis, MasterPass, iZettle, and more.