Mazooma Connects Mobile Payments with Online Banking

Friday Jul 15th 2011 by Vangie Beal
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Trading credit cards for online banking as the way to pay when shopping online offers advantages to both consumers and merchants.

The days of carrying a wallet around so you can pay for goods and services may be headed toward extinction. Instead, you'll use your smartphone. That's the direction mobile payments are heading, and a company called Mazooma hopes to facilitate the process (by using online banking) and make it more convenient for the consumer and less expensive (compared to credit card fees) for the merchant.

Our colleagues at Ecommerce-Guide have more details on this mobile commerce technology. Just click the link below.


Read the complete article: Online Banking Purchases Lower Merchants' Transaction Fees

For the savvy consumer who is ready to shop anywhere at any time mobile payments – e.g., using a smartphone as a wallet when shopping -- make it easy to complete a transaction. The current status quo is to use a credit card or PayPal account to make a purchase, but this is a changing landscape fueled by new mobile payment options and digital wallets (or ewallet).

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