Finovate Conference, San Francisco, CA (PRWEB) May 15, 2013
ZooZ, an innovative consumer-driven payment platform provider, announced today that it will be previewing a new breakthrough “In-Ad Payments”™ patent pending offering to the attendees of Finovate Spring on May 14-15 in San Francisco. A first-of-a-kind offering, ZooZ’s latest innovation marries mobile in-app payments with online advertising.
Leveraging its optimized consumer-driven platform, ZooZ’s “In-Ad Payments” enables publishers to streamline their mobile performance marketing and provide an experience that corresponds with the behaviors and needs of the average impulse buyer. ZooZ In-Ad Payments is significant because it enables ad agencies and networks to introduce new monetization models that are based on actual commerce transactions and not just clicks. According to Berg Insight, a telecom research company, the global mobile ad market is poised to jump from the $3.4 billion in 2010 to $22.0 billion in 2016.
While today’s mobile-oriented consumers expect immediate, hassle-free payment transactions, their experience is still sub-optimal, leading to persistently low conversion rates. According to a Nielsen study last year, 79% of respondents felt that shopping on a mobile device was slow and difficult to navigate, with many noting they had abandoned the transaction because the experience was so bad.
ZooZ’s In-Ad Payment replaces prevailing offerings that force mobile shoppers to undergo an excruciating process, including redirecting them to a new site where they may be required to download a different app and then have to find the product all over again, or being asked to leave contact details and then wait for someone to respond to them later.
ZooZ In-Ad Payments enables mobile users to checkout with one tap within a visible banner ad inside of an app. After tapping on the ad, ZooZ’s checkout will pop in and present the mobile user with a full native checkout experience but without requiring one’s credit card details to be re-entered. Already used by thousands of merchants, ZooZ’s new functionality incorporates all the benefits of its flagship offering, including the new “quick payment,” support for e-commerce sites and apps, multiple payment methods, and its unique fraud detection capabilities.
“For the past year, ZooZ has been squarely focused on making payments click for in app purchases and e-commerce. However, we recognized that the ad industry is also facing immense challenges trying to create viable monetization models for mobile, yet thus far their efforts are still hampered by low conversion rates. We believe our new In-Ad Payment functionality will be an important new alternative and are pleased to offer them a new viable option,” said Oren Levy, Co-founder and CEO of ZooZ. “Notably, our new In-Ad Payment offering essentially minimizes the process mobile shoppers have to go through and replaces it with a seamless and quick purchase experience.”
Through its unique checkout platform, ZooZ offers a complete, secure, and easy-to-use payment solution for e-commerce websites and mobile apps. ZooZ provides retailers and merchants with a set of tools that enables them to increase shopping conversion rates, reduce shopping cart abandonment, and grow their business based on smart consumer insights generated by its platform. By focusing on users’ behaviors and needs, ZooZ provides a standardized, branded, fast-and-easy checkout experience. Founded in 2010 by a team that includes a former executive leading VeriSign’s Fraud Detection group, the privately-held company has partnered with leading payment gateways, processors, and e-wallets worldwide to ensure that both users and retailers enjoy full flexibility and the broadest of payment options. The company’s patent-pending, bank-grade security technology also keeps user information secure in PCI-compliant servers. For more information, please visit http://www.zooz.com.