Payment
technology provider Zooz has 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.
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