Fintech company ZEN is launching on 32 European markets in strategic partnership with Mastercard, to give consumers and businesses peace of mind in managing their money and shopping transactions.
Apart from a multi-currency current account combined with Mastercard payment cards, ZEN offers exclusive benefits, including attractive moneyback or 1-year extension of the manufacturer’s warranty for consumers, as well as lack of chargeback claims for entrepreneurs or payments instantly reaching their account for their clients’ online purchases. ZEN’s offer is available via the online transaction service and the mobile app in a transparent subscription model. Thanks to low costs, latest digital innovations and great user experience, this fintech tool is perfectly suited for managing shopping transactions, especially in the booming e-commerce sector.
ZEN’s services are now available in 32 countries across Europe . With headquarters in Poland and digital money license issued by the central bank of Lithuania, ZEN provides customer service in English and Polish, with more languages to be added soon.
Unique benefits and extra protection
Individual clients can benefit from the protection of their purchases as a part of the ZEN Care package. It includes a one-year extension of the manufacturer's warranty for products purchased both online and offline with ZEN’s Mastercard card. In addition, if a complaint is necessary with the seller, ZEN provides the consumer with comprehensive support, mediating in resolving the situation so that the money is returned to the consumer's account as soon as possible.
Shopping with ZEN also means savings. Thanks to the moneyback offer, an immediate return of even up to 15% of the purchase’s value to the consumer's account is available in over 100 partner stores, such as e.g. AliExpress.com or Booking.com. Savings come also from the use of multi-currency ZEN account, which provides customers with no foreign exchange commission across 30 currencies, e.g. when shopping in foreign online stores or when withdrawing from ATMs around the world.
Thanks to Mastercard’s tokenization technology, ZEN offers digital payments via Apple Pay (all markets) and Google Pay (11 markets on the launch date).
Instant payments and no chargebacks for entrepreneurs
ZEN's offer for business customers combines a current account and an online payment platform. Thanks to this unique arrangement online sellers receive payments from their customers as soon as they pay. ZEN also supports a wide variety of online payment methods, giving consumers choice and improving conversion.
Entrepreneurs, both online and offline sellers, can also benefit from additional protection thanks to the lack of chargeback claims from their customers. By default, in case of card transactions consumers can submit such claims to their card issuer, generating potential costs to the seller. This however does not apply to ZEN’s business customers, because the fintech fully takes over the effects of chargebacks.
In addition to the above-mentioned benefits, entrepreneurs can also take advantage of all the elements of the offering for consumers.
“As an entrepreneur running my own international, digital business, I have encountered many challenges while managing my finances with traditional banking solutions. It has been taking too much of my time, distracting me from growing my business. This experience has made me realize that there are more people like myself, who need a comprehensive, digital financial suite, which gives peace of mind in terms of managing their money and shopping transactions. This is how the ZEN concept was born. Our mission is to provide effortless fintech experience so that our clients can focus on what really matters” - says ZEN’s founder, Dawid Rożek.
Subscription plans to choose from
ZEN offers its services under several subscription plans. Two of them (€0.99 or €4.99 per month) are dedicated to consumers and include a payment card linked to a multi-currency account and the ZEN Care protection package. Business clients in turn can choose one of four subscription plans, tailored to the company’s turnover or the need for frequent currency settlements (€9.99 - €499.99 per month). ZEN charges each user with a monthly fee, with the option to cancel the subscription at any time. Each plan offers service limits within which ZEN does not charge any additional fees.
Strategic partnership to bring innovation
ZEN is launching in strategic partnership with Mastercard. The global leader works with the fintech startup not only the field of payments, but also provides it with comprehensive support to accelerate its international development. This includes access to Mastercard's innovative technologies and business partners worldwide, as well as to Mastercard's experts in product development and marketing.
“Mastercard is partner of choice for fintechs around the world and we are delighted that ZEN has selected us to not only partner on leading product development, but also their launch and communications strategy. I truly believe that ZEN’s exciting new customer value proposition combined with a strong marketing strategy driven in partnership with Mastercard, will be a great success for the many people it serves” - says Raja Rajamannar, Chief Marketing and Communications Officer, Mastercard.
“Our partnership with ZEN is a great example of Mastercard's holistic approach to cooperation with fintechs. We have been working with ZEN since the very begging, focusing on product development and market launch strategy. We offer Mastercard’s technology, know-how, experience and scale, while ZEN adds its creativity and agility. We believe that such a comprehensive corporate-startup cooperation has a great potential of bringing innovations in digital payments to consumers and entrepreneurs” - says Bartosz Ciołkowski, General Manager for Poland, Czech and Slovakia at Mastercard Europe.
The state of ZEN
ZEN provides excellent user experience thanks to latest technologies and a friendly, easy-to-use interface. Convenient customer service is provided in digital communication channels. Thanks to a transparent offer and a minimalistic user panel, ZEN brings order to shopping and money management.
“ZEN is inspired by the culture of the Far East, where the concept of zen means peace of mind as well as the feeling of security and being in control. Our acronym of ZEN - zero-effort non-bank - stands for helping our clients to manage their finances effortlessly. Together with Mastercard we have built a suite of solutions that provides our clients with unique benefits and comprehensive protection, all with low costs and great user experience. I believe that with such a proposal we can compete with confidence to win the hearts of customers across Europe” - says ZEN’s founder Dawid Rozek.