Mazooma and DataCash Partner

Posted by John B. Frank Wednesday, April 1, 2009

DataCash, the U.K.'s market-leading payments service provider, announced a partnership with Mazooma, the first real-time online debit payment solution for U.S. consumers.

DataCash will offer Mazooma as a payment option for its global merchants. With Mazooma merchants of DataCash can offer their U.S. customers secure option to pay with cash online.

Mazooma enables customers to make online purchases without credit card by using their Internet bank account. The system does not require pre-registration which means that customers can use it immediately. Merchants in turn get instant authorization that allows them to ship the order at once. At present time Mazooma supports over 70% of all consumer bank accounts in the U.S. and has no jurisdictional limitations.

DataCash works with about 1,000 merchants across the globe and provides them with a single interface to process payments both on and offline. Its portfolio includes worldwide merchants from the retail, travel and telecommunications sectors.

About Mazooma:

Mazooma is the first real-time, closed-loop bank account payment system for online shopping. This allows consumers to complete their transaction in seconds while merchants receive instant notification of payment - it's just like paying with cash. Online.

Mazooma was founded to provide consumers and merchants with a safe, secure and convenient bank account payment channel for online shopping.

The ecommerce industry has long recognized that the current online payment systems do not provide a platform to service the millions of consumers who can't or won't use a credit card online.

To serve this market, Mazooma developed a system that combines the security and comfort of online banking with the convenience and speed of a simple payment checkout process. Mazooma provides consumers with an instant and safe way to pay for online purchases directly from their bank account - authorized through the financial institution they know and trust. And Mazooma provides online merchants with a new way to reach customers and increase revenue, all while reducing their costs of payment processing.

Mazooma, DataCash

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