Payment Technology Provider Zooz Teams Up with Alipay
Enterprise retailers will now be able to accept payments made through Alipay thanks to a partnership between payment technology provider Zooz and China’s leading online payments service.
By facilitating e-commerce with Alipay’s 300 million users, the collaboration eliminates the barriers that prevent retailers from offering products to the Far East market.
Of course, Alibaba, Alipay’s parent company, has been receiving a lot of attention from investors thanks to their plans to IPO on September 19th.
Zooz’s Smart Payment Engine simplifies direct integration with Alipay, making it possible for retailers to process online purchases made by Chinese customers with their preferred or localized payment options.
This system also reduces processing fees as it dynamically routes payments between selected local acquirers all over the world.
“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.”
Zooz optimizes retailers and businesses’ payments performance by boosting payment flexibility through connectivity to a network of acquirers and payment methods. Its payment solution conforms to all industry security and data protection requirements and regulations.
Andrei Charniauski, research manager at IDC Financial Insights, stressed the importance of the availability of a wide range of checkout options in today’s commerce, saying this reduces shopping card abandonment and boosts customer loyalty.