What is Mazooma?

Mazooma is a patent pending service that allows your customers to pay you directly from their bank account in real time.  The customer’s bank provides authentication through their existing secure online banking login and access. It’s just like paying with cash…online.

How does it work?

It’s easy.  Your customer pays you directly from their bank account.

Your customer:

	Chooses the Mazooma payment option on your cashier page.
	Signs in to their Mazooma account.
	Selects their bank and approves the purchase.

There is no need for new customers to sign up ahead of time – they just fill in their basic information, select their bank and approve the purchase.  View the Customer Experience.

Your systems receive real-time notification of transaction status and the customer is always returned to your cashier upon completion of the process. View the Product Tour.

How does Mazooma increase my sales?

Mazooma increases your sales by opening your store to brand new markets – customers who don’t have credit cards or will not use them online.  Mazooma provides these customers with a safe, convenient and familiar way to pay you.  They don’t need a credit card and they don’t need to disclose any personal financial information.

Why would my customers want to pay with Mazooma?

Many shoppers don’t have credit cards or prefer not to use them online.  In fact, 8 in 10 consumers who had a preference said they would spend more online if they had a safe and convenient alternative to credit cards. (Javelin Strategy and Research, 2007).

By connecting customers directly to their online banking to pay for purchases, Mazooma provides a safe and familiar way to pay without using a credit card or disclosing any financial information. 

Online banking is the fastest growing activity on the Internet and an estimated 80 million US adult Internet users will conduct some banking activity online this year, an increase of 9.5% over 2006.

Does Mazooma charge any fees to the customer?

No.  Mazooma does not charge your customer any fees.  The financial institution may charge a fee to the customer depending on their service plan.

How does Mazooma reduce my costs?

With no setup, monthly, reporting or cancellation fees, you only pay for the new business that Mazooma brings to your store.  And with our low discount rate, your incremental sales will cost less than your credit card sales – decreasing your overall processing fees.

How does Mazooma ensure privacy and security?

Privacy and security are two of the big benefits of Mazooma.  
Mazooma relieves the merchant of the liability, cost and risk associated with collecting and storing private customer data.

The consumer uses their existing online banking service with their usual User ID and Password.  Your customers feel comfortable because they are interacting directly with their bank and do not provide any financial details, card numbers or login information to the online merchant.  Mazooma’s Privacy Policy is certified by TRUSTe.

All data communication is secured using leading edge protection technologies, including 128-bit SSL and encryption certified by Verisign. All data is stored on servers not connected directly to the Internet and further protected by firewalls, anti-hacking, intrusion detection systems and extensive physical security.

Why should I offer Mazooma to my customers?

Increase your sales by opening your store to new customers.
Increase conversion rates, turning shoppers into buyers.
Build loyalty by offering more payment options.
Reduce your overall processing costs.
Reduce risk associated with collecting and storing customer data.

What are the benefits for my customers?

Privacy - they do not need to provide any financial details, card numbers or login information to the online merchant.
Ease of use – they do not need to sign up for an account ahead of time.  They can create an account and complete their purchase at the same time.
Security – the payment is completed through the financial institution they know and trust.
Alternatives - they now have another payment option when shopping online.
Save Money - Mazooma doesn’t charge the customer any fees.  They save on high credit card fees by using funds already in their bank account.
Access additional funds – customers can access low interest credit from their bank (line of credit, overdraft, etc.) to pay for purchases rather than high interest credit card fees.

How are funds settled to my account?

Mazooma settles funds to you through ACH credit either weekly or daily, depending on your volume of purchases.

How do I track and reconcile transactions?

Mazooma’s API communicates the status of every purchase to your servers in real time.  Extensive online reporting enables you to track specific customers or purchases as well as produce and download daily sales summaries, settlement reports and all other transaction activity in a variety of formats.

How does Mazooma guard against fraud?

Every purchase made with Mazooma is approved directly through the customer’s online banking, so there is never any question that the consumer has control and access to the bank account they are using to make the payment.

How do I get Mazooma for my online store?

It’s easy. Click here to get connected to your account manager.