E-Commerce Briefs: Non-Credit Online Payment Option Debuts

This week in e-commerce news, a new payment service launched that allows shoppers to buy online without a credit card, while ShopVisible announces support for Amazon Payments and TheFind.com debuts its Top 100 list recognizing outstanding online stores in 16 categories.

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Mazooma Money

A new online payment system called Mazooma allows shoppers to make purchases online and pay with money from their bank account instead of using a credit card.

Online sellers using Mazooma can open their e-commerce sites to the online shoppers who do not have credit cards or who simply don't want to use them as well as to those who are still uncomfortable sending sensitive information online.

Through an Internet-enabled back account, consumers can use Mazooma to transact in real-time with online merchants through a few simple steps, according to the company.

"In today's challenging economy, merchants are searching for new ways to increase revenue and reach more customers who are searching for deals online," Sean Kelly, CEO of Mazooma, said in a statement. "Mazooma's service connects merchants with consumers in a simple, familiar way. Millions can now shop online securely with no credit card, no credit check, and no interest charges. Plus, it's completely free for customers to use."

Kelly told InternetRetailer.com that Mazooma will cost merchants typically about half the fees of accepting credit cards. Fees are tiered by volume, and a merchant with annual sales of $25-30 million might pay 1.5 percent plus 20 cents, while a large merchant might pay 1 percent and little if any per-transaction fee. Kelly also says rates would be higher for smaller merchants.

InternetRetailer.com says this is how it works: your customers would select the Mazooma option on your checkout page. (If not registered, they would have to provide five pieces of personal information to sign up). Then the customers choose their bank from a drop-down menu and enter their online banking user name and password and are presented with the amount of purchase and an approval button.

If approved, the customer directs the bank to pay the merchant. Once registered, a shopper would enter a Mazooma user name and ID, then proceed to sign in to her bank account. Assuming the shopper has enough money in her bank account, Mazooma informs the merchant that the transaction has been authorized.

Since Mazooma does not require pre-registration, the solution may be used immediately. Merchants receive instant authorization, allowing them to ship the order at once. Currently, Mazooma supports more than 70 percent of all bank accounts in the U.S. and has plans for international expansion.

ShopVisible Includes Amazon Payments

In other e-commerce payment news, ShopVisible has integrated Amazon Payments into its offerings so customers can pay for purchases using their existing Amazon.com accounts.

When customers are ready to checkout at a Web site powered by ShopVisible, they can click on the "Checkout with Amazon" button and enter their Amazon.com information. Customers can then access their account, including their address book and payment information from Amazon.com to complete their purchase.

"The addition of Amazon Payments to the ShopVisible solution yields two big benefits for online sellers," Sean Cook, CEO of ShopVisible, said in a statement. "It's simple for ShopVisible clients to add Amazon Payments to their sites because many Amazon features, like Amazon Checkout, are integrated into our platform, which means no custom development required, no third-party vendor requests, or lengthy testing periods to get it up and running. Additionally, the Amazon Payments system helps online retailers make more money because consumers trust the Amazon brand and transaction experience, so buyers are much more likely to click the "buy now" button and execute online transactions."

For more information visit ShopVisible's Amazon Payment info page.

TheFind.com's Best in Show

TheFind.com, a shopping search engine for lifestyle goods, announced the winners of the inaugural TheFind100, recognizing the best 100 online stores in 16 shopping categories.

Over the last few years, TheFind has emerged as a leading shopping search engine for consumers seeking not only popular products, but also hard-to-find items. TheFind has proven its ability to deliver search results immediately from both mainstream department stores and coveted specialty boutiques alike.

"At TheFind, we are committed to connecting shoppers with the best stores and online retailers, and believe that by recognizing unique, specialty retailers with this annual award we will go a long way to promoting the very best of online shopping," said Larisa Hall, Vice President of Marketing for TheFind Inc. To get listed at TheFind.com, online store owners can visit the "Add A Merchant" page.

Heather Nolte, founder and CEO of Glamajama, was one of the e-tailers named in the new awards list. "Shopping on the Web can be so overwhelming, and I love the way TheFind brings the online shops to life with vivid pictures and informational snapshots," said Nolte. "I'm absolutely thrilled that Glamajama made the Top100 list for Baby Clothing. I think it's a terrific tool for our customers and I especially enjoy the 'local search' function."

PinkMascara.com, owned by Renee McCracken, was named in the apparel category. "Our business continues to grow every quarter," she said, "and partnering up with amazing sites like TheFind helps us to achieve our sales goals. I look forward to a long relationship with them."

Michelle Megna is managing editor of ECommerce-Guide.com.

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