Zoop (pagzoop.com) is a secure mobile social commerce and payment platform that enables merchants and consumers to take full advantage of a seamless shopping experience anywhere, anytime, anyway.
Unlike Square and PayPal Here, which only works with magnetic stripe cards and requires a merchant to plug a card-reading dongle into the headphone jack of the mobile device, Zoop offers a portable wireless mobile point-of-sales platform enabled to support all kinds of payment options, including EMV smart chip-based credit and debit cards, contactless card payments, NFC/mobile wallets, as well as traditional magnetic stripe cards. It empowers anyone with virtually any mobile device to get paid however they do business.Processing credit cards requires a merchants to fill out lengthy application forms, submit to credit check, acquire a merchant account from their bank, wait, and if approved, buy or rent a credit card processing machine, and pay high processing fees; something that is currently prohibitively expensive for most of small businesses and independent workers. Then there are monthly and termination fees that could cost a few hundred dollars.With Zoop, there are no upfront set-up charges, monthly or cancellation fees, maintenance costs, or hidden fees to have an account. Zoop processes a card transaction using a free mobile app and a free multi-functional mobile credit card reader.Zoop derives revenue from each payment transaction it processes. This brings simplicity and transparency to what can be a thicket of pricing options, including teaser fees that rise over time.The numbers of credit and debit card transactions at merchants, smartphone penetration, mobile payment users and mobile payment transaction values are increasing. These are continuing trends and there is no prospect of reversing it in coming years. Zoop is strongly positioned to take advantage of these trends, by eliminating excessive fees and reducing general friction around in-sore and online commerce for both consumers and merchants.