Zooz Inc., a technology company headquartered in Israel with offices in London and San Francisco, was founded in 2010 by Chief Executive Officer Oren Levy and Chief Technology Officer Ronen Morecki. The company's unique blend of technologies is designed to optimize payment processing efficiencies while deepening relationships between merchants and consumers. The flexible, modular platform can be easily integrated into diverse business environments across multiple, global channels. "Omnichannel merchants need an independent technology company that connects with everyone globally," said Chester Ritchie, Executive Vice President Sales and Business Development. "Zooz is a smart platform that's 100 percent [acquirer] agnostic, allowing merchants to take control of their processing."
Ritchie, a 20-year payments industry veteran who recently served as Head of Business Development for Worldpay, has observed the U.S. market's increasingly international scope, as the world's leading innovative companies and technology startups gravitate to Silicon Valley. The Zooz flagship office is steps away from Facebook and Twitter. "I used to say I could drive through the Internet," Ritchie said. "Now I can walk through it."
Zooz noted that it partners with financial institutions and third-party service providers to connect disparate technologies within a secure, comprehensive framework equipped with a robust fraud prevention engine that protects consumer data through dynamic risk assessment technologies, 3DES and Level 1 Payment Card Industry Data Security Standard (PCI DSS) compliance. Companies can use the platform to synchronize cross-channel operations and personalize consumer experiences.
Large retailers can leverage the company's suite of solutions to improve efficiencies and extend global reach. Select modules such as enhanced reporting, reconciliation and recurring billing, are helping clients reduce decline rates, increase revenues, maintain strong customer relationships and meet the challenges of a dynamic global market, the company reported.
The company prides itself on three main solutions in the Zooz platform technology suite, which it described as follows:
Smart Routing supports multiple payment methods to simplify reconciliation and reporting processes and facilitate cross-border commerce. The ability to view data from all integrated financial institutions and third-party solutions enables merchants to analyze decline rates, availability and response times per provider and configure Smart Routing protocols accordingly.
Omni-Channel enhances visibility into consumer behavior across all channels, including online and offline activities, giving large retailers the ability to recognize their customers at checkout and send personalized messages that enhance the customer experience.
Zooz Insights aggregates and analyzes merchants' payment data in a centralized portal, helping companies improve payment process efficiencies. Its enhanced data reporting enables merchants to react quickly to payment activities, such as 3DS abandonment and fraud detection.
U.S. acquirers need to support multiple languages, countries and payment types as they grow their global footprints. "It's a complicated world outside the United States," Ritchie said. "Zooz has created a smart payments router that can be plugged into any infrastructure.".
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