Transaction specialist uses $12m funding to triple workforce

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.