EBay to buy mobile payments company Zong for $240 million

View full sizeScreen shot of zong.com SAN JOSE, Calif. -- EBay Inc. is buying mobile payments provider Zong for about $240 million in cash so it can extend the reach of its PayPal online payments service. The online auctioneer said Thursday that Zong will help strengthen PayPal's position in the mobile payments and digital goods markets. Zong lets people use their mobile phones to buy virtual goods inside social networks and online games. To use it, they enter their phone numbers, which Zong verifies and clears the payment. The charges appear on customers' monthly cell phone bills. The deal