Mobile Payments Company GoPago Nabs Investment From JPMorgan Chase

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It’s something of a universal truth: standing in line sucks. The folks at GoPago know it and apparently so do the people at JPMorgan Chase, because the financial firm has just pumped an undisclosed amount of money into the Mountain View company in exchange for some of GoPago’s Series A Preferred Stock.

I don’t blame you if you haven’t heard of GoPago (more on that later), but think of it as a purchasing accelerator. Rather than have to wait in line while some putz agonizes over the exact mustard-to-mayonnaise ratio on his sandwich, GoPago users can store their credit card’s payment information in the GoPago smartphone app and place their orders remotely.

One quick pickup later and GoPago has saved another soul from the hell that is other people (…in a line). In a way, it’s similar to some single-service ordering apps (Chipotle comes to mind, for better or worse), but GoPago’s big draw is that it’s meant to work with a whole host of businesses instead of just one. Businesses can also offer special deals and discounts to loyal customers, something that Chase seems particularly interested in.

One of the big issues that Sarah Lacy brought up in her chat with founder Leo Rocco last year was that of reach. GoPago seems like a great way for the decisive and tech-savvy to skirt long lines, and the list of supported venues runs the gamut from coffee shops to steakhouses to pool halls. It sounds great, but it’s hard to get too excited about a service that only works in Mountain View and Las Vegas.

That should all change now that JPMorgan Chase has bought into the concept. Chase customers will be given the ability to create their own GoPago storefronts later this year, which hopefully means we’ll start seeing GoPago-powered businesses appear in more than just two states. In an interview with JP Morgan Chase’s Jack Stephenson, Reuters reports the bank will begin a GoPago trial run in San Francisco in April, with another trial in Dallas to follow shortly. How about some East Coast love, guys?

In the mean time, feel free to download the app from the iOS, Android, or BlackBerry app stores in anticipation. Don’t worry Windows Phone fans, GoPago hasn’t forgotten about you — a WP app is currently in the works.