(PRWEB) September 17, 2014
Payment technology provider Zooz today announced a partnership that allows enterprise retailers to accept online purchases made with Alipay, China’s most popular online payments service. By enabling e-commerce with Alipay’s 300 million registered users, the alliance removes the barriers that prevent large retailers from offering their products to the Far East market.
"Providing consumers with a wide range of payment options at the checkout is essential in modern day ecommerce,” says Andrei Charniauski, Research Manager at IDC Financial Insights. "This not only reduces shopping cart abandonment, but also improves customer loyalty. Partnering with major wallet providers that offer unique funding and checkout experiences should be on every retailer’s agenda."
Zooz’s Smart Payment Engine simplifies direct integration with international payment options like Alipay, enabling retailers to efficiently and flexibly process online purchases made by global customers with their localized/preferred payment options. It also reduces processing fees by dynamically routing payments between selected local acquirers worldwide.
“In the global marketplace, acceptance of a local payment method can dramatically impact a retailer’s business,” said Oren Levy, CEO of Zooz. “This partnership with Alipay confirms our commitment to helping our retail customers compete on the international playing field.”
According to iResearch, Alipay ranked first place in China’s online payment market, representing the largest share of 51% in Gross Merchandise Volume in the first quarter of 2014. Alipay offers payment and escrow services for transactions on Alibaba Group’s marketplaces as well as to third parties in China.
Zooz is a smart payment engine that enables enterprise-class retailers and growing businesses to optimize their payments performance by increasing payment flexibility through connectivity to a network of acquirers and payment methods. Zooz facilitates companies’ access to multiple acquirers and enables quick and easy integration for additional acquirers, granting retailers the flexibility to enter new markets, grow and increase revenues, and switch between payment providers as their business needs evolve. The company’s payment solution complies with all industry security and data protection requirements and regulations, including maintaining level 1 PCI compliance. Founded in 2010, Zooz has thousands of retail customers worldwide and partners with leading payment gateways, processors, and e-wallets to ensure that both users and retailers enjoy full flexibility and the broadest of payment options. For more information, please visit http://www.zooz.com.
Mark Prindle, 212-651-4223