Having raised $12m in funding last summer, Israeli smart payment technology provider Zooz has announced the appointment of another 100 employees.
This takes the total number of staff at the company, which is headquartered on New York’s 5th Avenue, up to 150.
Called “Smart Routing”, Zooz’s system works by using proprietary algorithms to route transactions to the relevant acquirer, cutting international and currency conversion fees to bring down decline rates and transaction costs. This, says the company, boosts the existing payment infrastructures of larger retailers, giving them more flexibility in the way that they accept payments, both online and in stores
In an interview with Bobsguide, CEO Oren Levy said: “This year has seen major advances in financial technology (“fintech”), retail globalization, and payments technology, to name a few. It is a great time to take a look at some of the important developments in 2014 and try to analyze how they might impact the world of payments and retail in 2015 and beyond.”
On-Demand Treasury Management Solutions continue to gain increased adoption in the US and EMEA regions.
Deutsche Bank plans to partner with fintechs that have complementary business models, rather than buying out tech start-ups and competing in the market, bank executives said at press briefing this week. They also discussed future strategies for the technology, securities and payments spaces.
From music festivals to motor racing, events and festivals are an integral part of the move to a cashless society, reports SIX Payment Services.
The US Commodity Futures Trading Commission approved LedgerX as the first regulated clearing house for derivatives contracts settling in digital currencies.