ZooZ receives more funding to support mobile payments push
ZooZ, a startup focused on mobile payments, has secured more than $2 million in its Series A funding, which closed this week. The funding is considered a major success for ZooZ, which aims to make mobile payments easier to use for consumers as well as more secure. The money garnered through Series A funding is expected to help ZooZ better establish itself in the competitive mobile commerce market. ZooZ will have to provide a significantly valued service in order to beat out the crowds of other startups that are emerging in the mobile commerce field.
More consumers becoming interested in mobile commerce
Mobile payments are becoming more popular as more consumers begin to rely heavily on their mobile devices. Smartphones and tablets are making it easier for consumers to shop online no matter where they are in the world. As mobile payments become more common, consumers are beginning to demand more comprehensive services that allow them to participate in mobile commerce. Security is also a major issue with consumers, many of whom are concerned for the safety of their financial information while making mobile payments.
Funding to help ZooZ establish more momentum
ZooZ will use the funding it has acquired to add new product functionality to its mobile payments platform. The goal is to increase its appeal to retailers and find new partnerships where the platform can be put to use. ZooZ has ambitions to become the most widely used mobile payments platforms among consumers and merchants. If the startup can develop an easy-to-use and secure system, this may well become a reality.
As ZooZ grows, it may become a competitor with other mobile commerce platforms
ZooZ currently covers much of Europe and Asia and is gaining some momentum in the U.S. The startup is currently competing with a multitude of other mobile commerce startups that are seeking to find success in their own markets. As ZooZ becomes more popular, it will begin to butt heads with larger companies, like Google, that are investing heavily in the mobile payments field.