Zuora Launches Z-Payments
Like everything else in this new Web 2.0 world, even billing subscriptions has become easier.âˆšÃ‡Â¬â€ Zuora, is a Redwood City, California startup founded by Tien Tzuo, who worked for almost a decade at Salesforce.com.âˆšÃ‡Â¬â€ The company launched almost a year ago and already has 40 customers.
One of my companies recently found itself wondering how would we handle the influx of new members on our soon to be released redesigned site.âˆšÃ‡Â¬â€ We considered hiring a bunch of accountant types to handle the monthly billing and subscriptions.âˆšÃ‡Â¬â€ Then like a sign from the heavens Zuora somehow landed in our office.âˆšÃ‡Â¬â€ Although we have not fully implemented Zuora into our site, the process is going smooth, and it appears their product was exactly what we need to avoid having hire 6 people.
Zuora’s initial product Z-Billing, automated the billing process for its customers.âˆšÃ‡Â¬â€ Their new product Z-Payments enables customers to actually pay those bills.âˆšÃ‡Â¬â€ This other side of the equation gets done with their integration with PayPal.âˆšÃ‡Â¬â€ âˆšÃ‡Â¬â€ Customers can use Z-Payments to alert their subscribers when their credit cards will expire, as well as send out warnings to customers that their membership will be suspended if they fail to pay.âˆšÃ‡Â¬â€ Each company can customize the service to their own terms.
To date, Zuora raised $6.5 million from Benchmark Capital and Marc Benioff.âˆšÃ‡Â¬â€ We are psyched to use this product, and since their costs are much more cost effective then some of their competitors like Vindicia, Zuora could become the powerhouse in this arena.