DataCash, the U.K.'s market-leading payments service provider, and Mazooma, the first real-time online debit payment solution for U.S. consumers, today announced a partnership that offers Mazooma as a payment option for DataCash's global merchants. For the first time, DataCash merchants can offer U.S. consumers the option to easily and securely pay with cash online, helping them reach more customers and increase sales.
"It is crucial for the payments industry to stay on top of consumer purchase trends and right now, one of the most prevalent is a shift in purchasing behavior to more responsible spending. Mazooma's non-credit payment option is the appropriate solution for these times," said Paul Burton, CFO, DataCash. "Partnering with Mazooma provides our global merchants with a valuable new channel to U.S. consumers."
Through an Internet-enabled bank account, millions of consumers can now use Mazooma to make online purchases without a credit card. Since Mazooma does not require consumers to pre-register, the solution may be used immediately, increasing conversion rates. Merchants receive instant authorization, allowing them to ship the order at once, further increasing customer satisfaction. Currently, Mazooma supports more than 70 percent of all consumer bank accounts in the U.S. and has no jurisdictional limitations.
DataCash represents nearly 1,000 merchants globally, providing them with a single interface to process payments both on and offline, with additional security provided by industry-leading fraud prevention tools. Its portfolio includes worldwide merchants from the retail, travel and telecommunications sectors.
"We're very excited by the opportunity to work with such a reputable payment service provider as DataCash," said Paul Phillipson, Mazooma's Vice President of Sales and Marketing. "In a physical store, consumers can pay with a credit card or cash. Mazooma is the only solution that allows millions of U.S. consumers to pay with cash online. Our objective is to bring this capability to market-leading eCommerce merchants around the globe. Our partnership with DataCash is a critical step in helping us achieve this goal."