Zuora, Inc., formed by Software-as-a-Service (SaaS) industry veterans from salesforce.com and WebEx to revolutionize the online subscription industry, today announces the release of its second product, Z-Payments. Z-Payments is the first complete payment solution built for subscription businesses. As part of this announcement, Z-Payments will come pre-integrated with the ability to accept PayPal payments. This powerful combination allows subscription businesses to offer their customers flexible and secure online payment options, manage the complexities of collecting recurring subscription payments, and ultimately get paid faster.
SAN FRANCISCO (Business Wire EON) October 7, 2008 -- "Zuora is entirely focused on creating products that help companies build, manage and grow subscription businesses. As it turns out, one of the major pains facing a subscription business is getting paid on time, every time," says Tien Tzuo, founder and CEO of Zuora. "To solve this problem, we teamed up with PayPal to create our new Z-Payments product. Z-Payments is a best-of-breed payment solution from the leader in online subscriptions and the leader in online payments."
"We are excited to have Zuora on board using PayPal," said Garrett Price, Vice President of Business Development at PayPal. "Zuora's expertise in the subscription market, coupled with our recurring billing functionality, makes Z-Payments a fast way for businesses to give their customers security and convenience when making payments online."
Z-Payments helps subscription companies automate the complexities associated with recurring payments all in one complete solution. Subscription businesses now have the ability to:
Accept payments online through popular payment gateways Accept traditional payments such as check or wire transfer Manage recurring payments unique to subscription businesses Automate exception handling around any payment issues View customer account balances and shorten collection cycles Box.net, a provider of data and file sharing services, is a current user of Z-Payments. "With over two million people using Box.net, we could no longer depend on a manual billing and payment process that was hindering our business operations," said Aaron Levie, Box.net's CEO. "We were literally losing money because we couldn't track down failed monthly payments. Now, Z-Payments helps us automate all the issues and exceptions that arise with recurring payments. This allows us to focus on efficiently scaling our business."
Teach the People, a Facebook application that allows any Facebook user to become a teacher and a student, is using Z-Payments to accelerate the launch of their service. "We've been searching for a simple way to monetize our Facebook application, but we didn't want to have an ad-based business model," said Jason Beckerman, CEO of Teach the People. "Z-Payments is saving us from having to do a lot of back end development work ourselves, which means we'll launch our application a year ahead of schedule."
Z-Payments is the second product for Zuora, Inc. The company launched their first product, Z-Billing, in May 2008 after securing a Series A funding round of $6.5 million from Benchmark Capital and Marc Benioff. The company currently has over 40 customers, including Marketo, Cloud9, Coremetrics, and Top Right. Z-Payments starts at $500 per month and comes pre-packaged with Z-Billing.
About Zuora, Inc.
Zuora, Inc. is a Redwood City based company created to support the growing subscription market with a complete solution that is flexible, powerful, and integrates with the entire company infrastructure. The platform created by Zuora changes the way subscription businesses manage and sell to customers, as well as allows them to bring new products to the market in less time, and with less hassle. Zuora was built from the ground up by SaaS industry visionaries and veterans from salesforce.com, WebEx, Accenture, Postini (now Google), and Oracle. To learn more about Zuora, please visit www.zuora.com.
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