04/07/2012 : ONLINE PAYMENT PROCESSOR SCORES MAJOR CONTRACT
Bigpoint selects Mazooma as its US payment partner
Bigpoint, a worldwide provider of online games with more than 261 million registered users, and Mazooma, a popular Canadian internet payment processor signed an agreement this week that will enable Bigpoint’s players in the United States to use Mazooma’s instant online bank transfer service to purchase virtual credits.
The partnership could pave the way for a strong US business for Mazooma should online gambling in the United States be legalised.
“The use of online bank transfers is pervasive in Europe, where we are headquartered, so we are pleased with the opportunity to partner with Mazooma to offer a similar option in the U.S. market,” said Linus Menden for Bigpoint.
“Mazooma is the only vendor in the U.S. that offers real-time bank transfers, which allows us to continue delivering the best online experience to our community.”
According to an Ernst & Young report, processing costs charged by traditional credit card networks are too high on small ticket transactions. With fees less than half those of credit cards, Mazooma’s payment option decreases payment processing costs and chargebacks.
Wilson Lee, president of Mazooma, said: “Our online bank transfer solution was designed to fill a void in the U.S. market for companies like Bigpoint, and is a cost-effective micropayment processing alternative to credit cards.”
Mazooma’s payment network supports 15 of the largest U.S. banks and provides merchants with broad consumer access to over 55 million American households that actively use online banking.
The service will be integrated into Bigpoint’s payment system, where users can choose Mazooma’s “Pay with Online Banking” option to complete their purchase, bypassing the need to enter their credit card information.
Mazooma’s payment platform is broadly accessible to Bigpoint users through their smartphones, tablets and laptops. The company is headquartered in Toronto and has offices in Miami and Chicago.