ZooZ secures USD2m for in-app payment system

Secured funding

ZooZ, a Tel Aviv-based firm that offers an in-app instant payment system, has secured USD2m in a funding round led by XSeed Capital. ZooZ claims that there are an average of 5.08 steps to buying a product online and that its system reduces this to one.

It does this by optimising its screens and making it possible to purchase items using stored payment methods with a single push of a button. This, ZooZ claims, increases the chance of a customer completing a successful purchase. The money will be used to develop the product and to establish itself in the market.

ZooZ is adamant about the fact that it has built its solution with security and fraud detection in mind. All sensitive data is stored in a PCI-compliant cloud environment.

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