JPMorgan Chase & Co. has invested through preferred stock in GoPago Inc., a provider of emerging mobile payments technology, the bank announced Feb. 23.
GoPago has developed a free smartphone application that allows consumers to browse, order, and pay for local goods and services at merchants such as coffee shops, hair salons and dry cleaners. The application allows businesses to set up mobile stores with analytics from GoPago that provide information for special offers, Chase said in a press release.
Chase said its customers will have the chance later in 2012 to create free mobile storefronts through GoPago. The San Francisco-based company’s cloud-based payment application is available for the Apple Inc. iPhones, handsets that use Google Inc.’s Android operating system and Research in Motion Ltd.’s BlackBerry phones.