Chase Invests in GoPago

March 2, 2012

JPMorgan Chase & Co. has invested an undisclosed amount in GoPago, Inc., a Mountain View, Calif.-based provider of technology that enables consumers to pay in-store for products using a mobile device without standing in line. Chase said its investment, in the form of GoPago’s Series A preferred stock, will enable brick and mortar businesses to leverage mobile to better compete with online businesses.

“Chase is committed to giving consumers and businesses a great shopping experience, leveraging the latest advances in mobile payment technologies,” said Jack Stephenson, director of mobile, e-commerce and payments at Chase. “GoPago will allow us to create a 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.”

Later this year, Chase customers will be able to create free mobile storefronts through GoPago enabling them to maintain foot traffic in stores while allowing customers to pay without standing in line.