Mazooma, which is an American company with an office in Toronto, has unveiled their new micropay-in-a-box solution, which has as much as a 71% reduction in merchant fees for digital content merchants. With 25% year-over-year growth, digital content is currently the fastest-growing eCommerce sector, driving an explosion in small-ticket transaction volumes. However, merchants selling digital music, games, books, and videos are underserved by traditional payment options. Mazooma’s new micropay solution fills this void, enabling these merchants to sell their goods faster, safer, and more cost-effectively.
Mazooma’s micropay-in-a-box solution is available to Discover’s direct merchants using the Centinel® Universal Merchant Platform through CardinalCommerce Corporation. For a merchant using Centinel, it is as simple as placing the Mazooma payment button on their checkout page to support a new payment option that enables consumers to pay using their online banking account. For these merchants, there is no implementation required and no changes to existing settlement and reporting from Discover. It is a turnkey solution that makes it easy for merchants to offer the new Mazooma payment brand.
An online banking-based payment solution, Mazooma connects consumers directly to their bank account from the merchant’s checkout page, enabling secure, instant payments for online purchases. Other features of Mazooma’s micropay solution include a processing fee of 1.5% + $0.05 per transaction without the need to aggregate transactions, and a streamlined checkout in two clicks, with no offline sign-up process.
“With Mazooma’s micropay-in-a-box solution, Discover merchants selling digital content can enjoy instant, online payments, as well as ease of implementation, less technical resources and consolidated settlement and reporting,” says Farhan Ahmad, General Manager, Prepaid & Director of Emerging Payments at Discover. “At Discover, we aim to provide our merchants with more payment choices, and we believe the relationship with Mazooma will do just that.”
“We’re pleased to be able to leverage Centinel to extend the Mazooma payment option across the Discover Network of retail merchants,” said Janet Kapostasy, Vice President, Financial Institution Services, CardinalCommerce Corporation. ”The micropay solution addresses a key pain point in the digital goods vertical.”