With 25-percent year-over-year growth, digital content is currently the fastest-growing sector of e-commerce. That rate of growth is driving a significant increase in small-ticket transaction volumes, but merchants that sell digital books, videos, music and games are underserved by traditional payment options.
Mazooma, however, has a new micropay solution that aims to fill this void, enabling merchants to sell these goods faster, safer and more cost-effectively. An online banking-based payment solutions provider, Mazooma connects consumers directly to their bank accounts from the merchant’s checkout page, enabling secure, instant payments for online purchases.
Mazooma’s new micropay-in-a-box solution has as much as a 71-percent reduction in merchant fees for digital content merchants. The solution is available to Discover’s direct merchants using the Centinel Universal Merchant Platform through CardinalCommerce Corporation.
Merchants using Centinel can place the Mazooma payment button on their checkout pages to support a new payment option that enables consumers to pay using their online banking accounts. There is no implementation required for these merchants and no changes to existing settlements and reporting from Discover.
Other features of Mazooma’s micropay solution include a processing fee of 1.5 percent + $0.05 per transaction without the need to aggregate transactions, and a streamlined checkout in two clicks, with no offline sign-up process.