Bitnet and Zooz enable merchants to accept Bitcoin

Bitnet Zooz Partner

We are pleased to announce our strategic partnership with Bitnet, an enterprise Bitcoin payments processor, that will enable merchants to accept Bitcoin as a payment method on the Zooz payment platform.

Bitcoin is a digital currency that allows merchants to accept payment from anyone anywhere in the world at low cost and with no chargeback risk. Its reach, coupled with the ability to address points of friction in traditional payments networks, has led to a surge of interest in Bitcoin in recent years.

Zooz customers will be able to add Bitcoin as an option to their checkout pages quickly and easily. Bitnet will enable Zooz’s customers to accept payments in Bitcoin without being exposed to the risk of fraudulent transactions or any volatility in the price of Bitcoin.

“We have seen the growing interest in digital currencies among our customer base and are excited to partner with Bitnet to add Bitcoin to our service offering,” said Nathan Jackson, VP Europe, Zooz. “We selected Bitnet as a partner due to their advanced platform, integrity of its team, in addition to demand from some of our key customers for Bitcoin payments.”

“Our partnership with Zooz enables us to work with one of the most innovative payments platforms in the market,” said Akif Khan, Chief Commercial Officer, Bitnet. “We are excited to partner with this rapidly growing company and help its merchants drive profitability across all channels.”

Are Wearable Payments the Next Big Thing?

bPay wearable tech

bPay wearable technology for contactless payments, Source:

The first half of 2015 was fairly quiet in the wearables world, amid Google Glass coming off the shelves. Sure, the Apple Watch/Galaxy Gear S rivalry turned some heads, and several successful products were introduced– including numerous fitness bands, cyclist safety helmets, cellphone-charging belts, and even bracelets that help users kick bad habits. However, we still haven’t seen that one big game-changing product we’ve been waiting for. Instead, wearable technologies have been lackluster and, in some instances, even the laughing stock of innovation (cough, cough, Google Glass).

However, with UK bank Barclays’ recently launched bPay, a series of wearables that make contactless payments, we could finally be seeing the light at the end of the tunnel. With consumers eagerly adapting to new technologies ranging from Apple Pay, Samsung Pay and Android Pay to bitcoin, P2P payments and the new chip-and-PIN credit cards, perhaps payments can provide the “wow” factor that is missing from current wearable tech.

bPay consists of a wearable wristband, a key fob, and an NFC sticker that can be placed on a cell phone. An NFC chip can be inserted into either the wristband or the key fob. Each is sold separately, and allows users to transfer money onto these devices without fees. Users then download the bPay app on their Android or iPhones to set up an account if they don’t have one.

Barclays has established a pre-pay system that doesn’t confine a user to a specific bank or payment card, and the device can be loaded with as much or little cash as desired. Users can track their purchase history via the app as well as manage devices to their accounts.

Barclaycard has honed its vision of allowing people to travel throughout the UK without having to carry wallets, making it easier, safer and faster to make certain transactions. It has also tied its perception of combining health tracking with payments solutions, since they are in direct competition with each other to become leaders in the wearable payments market.

Will the U.S. be next to turn this “touch and go” vision into a reality? The real question is whether U.S. banks will opt to create their own wearable payments devices or partner with the likes of Apple and Samsung.  Should they follow Barclays’ footsteps, there is a possibility that it could work. Consumers look to their banks as the innovators behind the concept of such technology making it a lot easier for them to make purchases.

Tap Into the Growing Luxury Market By Understanding the Buyers

The high-fashion industry is growing steadily: In the past 15 years, the overall number of luxury consumers has increased from 140 million worldwide to over 350 million. According to the leading management consulting firm, Bain & Co., the global personal luxury goods market reached $251 billion in revenue in 2014, constituting a 3 percent increase when compared to 2013. This upward trend continued in the first quarter of 2015, and the market’s full-year performance is expected to increase 2-4 percent.

Most retail industry experts agree that the ability to operate on several marketing channels (including in-store, online and mobile) is a key factor which merchants cannot afford to ignore. This is especially true of high fashion customers that are very mobile and can transition among various purchasing channels and across countries with ease.

One thing is clear – no matter where or how these savvy customers choose to seal the deal, they want to be wooed and courted with an elevated and personally customized shopping experience. In this Entrepreneur article, Zooz CEO Oren Levy discusses how to understand that needs and preferences of luxury buyers and consequently attract these buyers to convert. Read the full article here.