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Mazooma: DataCash Partners With Mazooma to Offer Merchants the Ability to Accept Cash Payments Online

^{Published on 2009-03-31 06:48:15, Last Modified on 2009-11-03 09:23:16 - Market Wire}
 

MIAMI, FL--(Marketwire - March 31, 2009) - DataCash, the U.K.'s market-leading payments service provider, and Mazooma, the first real-time online debit payment solution for U.S. consumers, today announced a partnership that offers Mazooma as a payment option for DataCash's global merchants. For the first time, DataCash merchants can offer U.S. consumers the option to easily and securely pay with cash online, helping them reach more customers and increase sales.

"It is crucial for the payments industry to stay on top of consumer purchase trends and right now, one of the most prevalent is a shift in purchasing behavior to more responsible spending. Mazooma's non-credit payment option is the appropriate solution for these times," said Paul Burton, CFO, DataCash. "Partnering with Mazooma provides our global merchants with a valuable new channel to U.S. consumers."

Through an Internet-enabled bank account, millions of consumers can now use Mazooma to make online purchases without a credit card. Since Mazooma does not require consumers to pre-register, the solution may be used immediately, increasing conversion rates. Merchants receive instant authorization, allowing them to ship the order at once, further increasing customer satisfaction. Currently, Mazooma supports more than 70 percent of all consumer bank accounts in the U.S. and has no jurisdictional limitations.

DataCash represents nearly 1,000 merchants globally, providing them with a single interface to process payments both on and offline, with additional security provided by industry-leading fraud prevention tools. Its portfolio includes worldwide merchants from the retail, travel and telecommunications sectors.

"We're very excited by the opportunity to work with such a reputable payment service provider as DataCash," said Paul Phillipson, Mazooma's Vice President of Sales and Marketing. "In a physical store, consumers can pay with a credit card or cash. Mazooma is the only solution that allows millions of U.S. consumers to pay with cash online. Our objective is to bring this capability to market-leading eCommerce merchants around the globe. Our partnership with DataCash is a critical step in helping us achieve this goal."

About Mazooma

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 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 accounts -- authorized through the financial institutions they know and trust. Mazooma provides online merchants with a new way to reach customers and increase revenue, all while reducing their costs of payment processing. For more information, visit [ http://www.mazooma.com ].

About DataCash

DataCash Group PLC (AIM: DATA) is the trusted payment processing and fraud screening service provider for over £16 Billion of Cardholder Not Present (CNP) and Cardholder Present (CP) payments in 2008. As the partner to many of the UK's leading High Street retailers and e-Commerce businesses, DataCash enables merchants in all sectors to process payments reliably, securely, efficiently and with reduced risk of fraud, whether they originate in store, on the web, from a call centre or from unattended and mobile devices. DataCash is able to provide Merchants with first-class service reliability at a fraction of the price of an in-house solution, DataCash allows merchants to set the most appropriate level of service to meet their business needs.

This ranges from the complete outsource of all back office administration, payments, accounts reconciliation and risk services through to the provision of easy to use, rules based screening that helps to automate rapid and secure payment authorisations and settlement, also supporting AVS/CV2, 3-D Secure (Verified by Visa and MasterCard Secure Code) and in compliance with PCI DSS.

With a global client base and connections to financial networks worldwide, DataCash provides access to the local, preferred payment types territory by territory. Uniquely, DataCash monitor all financial transaction types including cards, debit payments, ACH, wallets and direct bank transfers. Its fraud screening service operates across all of its vertical markets and geographies providing a highly effective block of fraud syndicates migrating activity between sectors. For more information, please visit [ http://www.DataCash.com ] or email [ info@DataCash.com ].