Technology firm ZOOZ has unveiled its new Open-Payments-Platform-as-a-service called PaymentsOS, which offers a cloud-based globally distributed infrastructure to allow businesses manage various payment service providers through a single platform.

The new platform will enable merchants to monitor their payment activity in one dashboard.

At the same time, it will allow businesses to optimise payment flows through a real-time self-serve decision engine.

The platform will also enable businesses assess payment behaviour by utilising reports and analytics tools, comparative benchmarks and machine learning driven insights.

ZOOZ founder and CEO Oren Levy said: “Most of the existing payments infrastructure were built decades ago and lack flexibility and scalability. Furthermore, most of them were not built to handle the exponential growth and complexity of the current global e-commerce arena.

“Complexity created primarily by an overwhelming amount of payment methods and channels, working with vastly different technologies, requiring difficult integrations. Merchants face additional complexity aggregating all payments data from each provider resulting in a lack of insights and analytics.”

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By GlobalData