JPMorgan Chase & Co. has invested through preferred stock 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 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, JPMorgan Chase said on Thursday.
JPMorgan Chase said that its customers will have the chance later in 2012 to create free mobile storefronts through GoPago. The San Francisco company's cloud-based payment application is currently available for the iPhone, Android and BlackBerry.