22 October 2016
Visit dh.com

Merchant acquiring startup Zooz raises $12 million investment round

16 July 2014  |  2205 views  |  0 Source: Zooz

Zooz, a smart payment technology provider, today announced that it has closed a $12 million round of investment.

The round was led by Blumberg Capital, with participation by existing investors including XSeed Capital, lool ventures and Rhodium, as well as new investors Access Industries and Camp One Ventures. Zooz will use the funding to continue creating innovative technology, scale up operations and open new offices.

"There is clearly a need for an advanced payment technology that can help businesses stay ahead of their competition through optimization and technology differentiation, and that is where Zooz excels," said Alon Lifshitz, Partner at Blumberg Capital, who will be joining Zooz as a board member. "We have been very impressed by their innovations and rapid growth in the global payments market."

Zooz enhances and optimizes the existing payment infrastructure of enterprise-class retailers, enabling them to accept payments efficiently and flexibly for competitive rates across online and in-store channels. Zooz's Smart Routing solution connects retailers to multiple acquirers and payment methods through a simple integration, resulting in a seamless payment experience across all channels for retailers and their customers.

"We appreciate the confidence of our investors, both new and old, as we continue to forge our leadership position in this developing industry," said Oren Levy, CEO of Zooz. "This round demonstrates that there is a recognized market need for payment platforms that can help retailers navigate the challenges associated with globalization, omni-channel retail, and coordination between multiple financial institutions."

Zooz allows retailers to create a personalized user experience - both in-store and online - through the consolidation of consumer data. When a customer payment is made over Zooz's platform, the payment details are securely stored so that future payments made through different channels can be linked to the original user. This user information provides retailers with essential insights that can be used to create personalized shoppinhopping experiences and increase conversion rates.

Zooz has thousands of retail customers worldwide, and is level 1 PCI compliant.

Comments: (0)

Comment on this story (membership required)

Related blogs

Create a blog about this story (membership required)
Find out moreFind out more

Top topics

Most viewed Most shared
The bank of the future will be invisible - KPMGThe bank of the future will be invisible -...
33129 views comments | 119 tweets | 223 linkedin
New EU rules could cost UK firms £122bn in cybersecurity fines - PCI SSCNew EU rules could cost UK firms £122...
10669 views comments | 31 tweets | 37 linkedin
Barclays and Citi test blockchain tech for equity swaps processingBarclays and Citi test blockchain tech for...
8444 views comments | 26 tweets | 19 linkedin
ING takes fintech startup route to UK relaunchING takes fintech startup route to UK rela...
6896 views comments | 29 tweets | 21 linkedin
Indian banks hit by massive ATM breachIndian banks hit by massive ATM breach
6523 views comments | 16 tweets | 25 linkedin

Featured job

Find your next job