INNOVATE 2009, SAN FRANCISCO — Nov. 3, 2009 — Zuora, Inc., the fastest growing billing and payments service, today announced its newest product, Z-Payments 2.0 powered by PayPal X, the world’s first truly global payments platform.
Z-Payments 2.0 is the first subscription commerce solution built with PayPal X to help businesses manage the complexities associated with recurring subscription commerce.
Zuora created Z-Payments 2.0 while participating in the closed beta program for PayPal X’s first suite of APIs, Adaptive Payments. Z-Payments 2.0 exemplifies Zuora’s focus on developing the full suite of commerce operations needed by subscription businesses. The flexibility of PayPal X makes it easy for Zuora to extend and innovate on PayPal’s core capabilities such as payment failure handling and diagnostics and processing of refunds, overpayments, chargebacks, write-offs, voids, and invoice adjustments.
Zuora is among the first wave of innovators to take advantage of the features of PayPal X to simplify its customers’ online payment experience.
“The decision to build with PayPal X was an easy one for us — PayPal is the global leader in online payments and is paving the way for the future,” said Tien Tzuo, CEO, Zuora. “With PayPal X, we are able to give our customers the security and safety PayPal is known for as well as new flexible payment options that are tightly integrated with our subscription commerce applications.”
Z-Payments 2.0 is the most flexible and powerful payment and commerce solution for subscription businesses. Z-Payments 2.0 seamlessly extends the Adaptive Payment capabilities of PayPal X with the following functionality:
With Z-Payments 2.0, companies in various industries can build subscription storefronts using PayPal X’s capabilities, for example:
All of Zuora’s existing customers will be automatically upgraded to Z-Payments 2.0 when it is released in Q1 2010.
“Zuora extended PayPal’s payments capabilities into recurring payments, addressing complex business needs for a range of verticals, such as media companies, SaaS vendors and cloud computing,” said Osama Bedier, PayPal’s vice president of platform. “The combination of our Adaptive Payments APIs and Zuora’s Z-Payments technology provides an even easier way for companies to provide subscription payments capabilities to their customers.”
The public launch of PayPal X will be at PayPal X Innovate 2009, the first ever PayPal-dedicated developer conference being held on November 3-4, 2009 in San Francisco.
Zuora is the fastest-growing on-demand subscription billing and payment service. The Zuora platform changes the way subscription businesses manage and sell to customers, and allows them to bring new products to market in less time, with less hassle. Zuora is built from the ground up by SaaS industry visionaries and veterans from salesforce.com, eBay, WebEx, Accenture, Google, and Oracle. The company is based in Redwood City, California. To learn more about Zuora, please visit zuorainternprd.wpengine.com.
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